Consider the following types of data that were obtained from a random sample of 49 credit card accounts. Identify all the averages (mean, median, or mode) that can be used to summarize the data. (Circle all that apply.) (a) Outstanding balance on each account.-mode-median-mean (b) Name of credit card (e. g., MasterCard, Visa, American Express, etc.).-mode-median-mean (c) Dollar amount due on next payment.-mode-median-mean

Question

Mathematics

Rohan Johnston

18 November, 10:50

Consider the following types of data that were obtained from a random sample of 49 credit card accounts. Identify all the averages (mean, median, or mode) that can be used to summarize the data. (Circle all that apply.) (a) Outstanding balance on each account.-mode-median-mean (b) Name of credit card (e. g., MasterCard, Visa, American Express, etc.).-mode-median-mean (c) Dollar amount due on next payment.-mode-median-mean

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Nasir Gregory · Answer 1

Part a: All the averages are good.

Part b: Mode is better.

Part c: All the averages are better

Step-by-step explanation:

(a) Outstanding balance on each account.

All the averages are better. i. e Mean, Median, Mode, as the data can be expressed by either of the three options.

(b) Name of credit card (e. g., MasterCard, Visa, American Express, etc.)

Mode is better as the frequency/occurrence of the credit card with maximum customers is a interesting way of identification.

(c) Dollar amount due on next payment.

All the averages are better. Mean, Median, Mode. The data can be presented by either of the above options.