To solve this, we need to know how to find the mean of a set of data and how to find the median of a set of data. To find the mean, or often called the average, we should add all of the values up, and then divide it by the number of values. 588+838+691+818+846+725+605+732+750 = 6593 6593/9=732.556 The problem tells us we should round to the nearest point, so our mean credit score is 733. To find the median, we need to order the data from lowest to highest and find out which credit score(s) are right in the middle. If there are 2 in the middle, we simply should add them and divide by 2 to get our median. An easy way to do this is after you order them, you simply cross off one on each side until there is only 1 (or 2) left. 588 605 691 725 732 750 818 838 846 605 691 725 732 750 818 838 691 725 732 750 818 725 732 750 732 Since we only have one number in the middle, we are done with the median! We know our median is 732. Now we simply need to compare them and subtract the lower one from the higher one. Mean:733 Median: 732 733>732 We know the mean is bigger, so we should subtract the median from the mean. 733=732=1 Using the logic above, we can see that the mean is 1 point higher than the median.
Eric is comparing the credit scores of his friends. The scores he gathered are found in the table below. 588 838 691 818 846 725 605 732 750 Among this batch of credit scores, find whether the mean or the median is higher, and how much higher it is. (Round to the nearest whole point, if applicable.) a. The mean is 113 points higher than the median. b. The mean is 1 point higher than the median. c. The median is 15 points higher than the mean. d. The median is 8 points higher than the mean.