To calculate the mean amount spent on Valentine's Day gifts based on the given frequency distribution, we can follow these steps:
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Calculate the Midpoint for Each Class Interval: The midpoint is calculated by taking the average of the upper and lower boundaries of each class.
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Multiply the Midpoint by the Frequency: We multiply the midpoint of each class by the frequency to obtain the total amount for that class.
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Sum the Results: We will then sum up all the products from step 2 to get the total amount spent.
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Divide by the Total Frequency: To find the mean, divide the total amount by the total frequency.
Step 1: Calculate the Midpoints
| Amount | Frequency | Midpoint (x) | |-----------------|-----------|--------------| | 0.00 - 19.99 | 19 | 9.99 | | 20.00 - 39.99 | 13 | 29.99 | | 40.00 - 59.99 | 21 | 49.99 | | 60.00 - 79.99 | 19 | 69.99 | | 80.00 - 99.99 | 12 | 89.99 | | 100.00 - 119.99 | 10 | 109.99 | | 120.00 - 139.99 | 4 | 129.99 | | 140.00 - 159.99 | 8 | 149.99 | | 160.00 - 179.99 | 7 | 169.99 | | 180.00 - 199.99 | 1 | 189.99 | | 200.00 - 219.99 | 3 | 209.99 | | 220.00 - 239.99 | 2 | 229.99 | | 240.00 - 259.99 | 1 | 249.99 |
Step 2: Multiply Midpoint by Frequency
| Amount | Frequency | Midpoint (x) | Frequency⋅Midpoint (f * x) | |-----------------|-----------|--------------|-----------------------------| | 0.00 - 19.99 | 19 | 9.99 | 189.81 | | 20.00 - 39.99 | 13 | 29.99 | 389.87 | | 40.00 - 59.99 | 21 | 49.99 | 1049.79 | | 60.00 - 79.99 | 19 | 69.99 | 1324.81 | | 80.00 - 99.99 | 12 | 89.99 | 1078.88 | | 100.00 - 119.99 | 10 | 109.99 | 1099.90 | | 120.00 - 139.99 | 4 | 129.99 | 519.96 | | 140.00 - 159.99 | 8 | 149.99 | 1199.92 | | 160.00 - 179.99 | 7 | 169.99 | 1189.93 | | 180.00 - 199.99 | 1 | 189.99 | 189.99 | | 200.00 - 219.99 | 3 | 209.99 | 629.97 | | 220.00 - 239.99 | 2 | 229.99 | 459.98 | | 240.00 - 259.99 | 1 | 249.99 | 249.99 |
Step 3: Sum the Results
Now we will add the Frequency⋅Midpoint
values:
Total = 189.81 + 389.87 + 1049.79 + 1324.81 + 1078.88 + 1099.90 + 519.96 + 1199.92 + 1189.93 + 189.99 + 629.97 + 459.98 + 249.99 Total = 7598.25
Step 4: Divide by Total Frequency
Total frequency = 120
Mean Amount = Total Amount / Total Frequency Mean Amount = 7598.25 / 120 ≈ 63.32
Conclusion
The approximate mean amount spent on Valentine's Day gifts is $63.32.