Consider the price of all items sold in the vending machine,…
Consider the price of all items sold in the vending machine, then complete the following on a piece of paper and upload a photo. $2.25 $3.25 $1.50 $1.75 $2.75 $1.00 $1.25 $2.00 $1.50 $2.00 What is the mean item price? Would this be a statistic or a parameter (please explain)? What is the range of the prices? What is(are) the mode(s)? What does it represent? Give the 5 number summary and sketch the boxplot. What is the price that indicates only 25% of the items are more expensive? If an item was added to the vending machine and cost $5, would this be an outlier? Explain your answer mathematically. Find the standard deviation and variance for this distribution. BONUS: find the mean absolute deviation by hand When finished, select True.
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