Question

Month Amount
January $567
February $582
March $609
April $620
May $634


Which statement is correct when comparing the MEAN and MEDIAN of the table's data?
Responses

A The mean value is greater than the median value.The mean value is greater than the median value.

B The mean value is less than the median value.The mean value is less than the median value.

C The mean value is equal to the median value.The mean value is equal to the median value.

D The median value is less than the mean value.The median value is less than the mean value.

Answer 1

To determine the correct statement regarding the mean and median of the given data, we first need to calculate both the mean and median.

**Data:**
- January: $567
- February: $582
- March: $609
- April: $620
- May: $634

**Step 1: Calculate the Mean**
The mean is calculated by summing all the values and dividing by the number of values.

1. Sum of amounts:
\( 567 + 582 + 609 + 620 + 634 = 3012 \)

2. Number of months:
\( 5 \)

3. Mean value:
\[
\text{Mean} = \frac{3012}{5} = 602.4
\]

**Step 2: Calculate the Median**
The median is the middle value when the data is ordered.

- Ordered amounts: $567, $582, $609, $620, $634

Since there are 5 values (an odd number), the median is the 3rd value in the ordered list.

- Median value:
\[
\text{Median} = 609
\]

**Step 3: Compare the Mean and Median**
- Mean = 602.4
- Median = 609

Now we can compare the two:

Since \( 602.4 < 609 \), we conclude that:

**Correct Answer: B**: The mean value is less than the median value.