(low price + median price + high price)/3 = 14544.43 (the mean price).
Therefore, lp + median + hp = 3*14,544.43 = 43,633.29.
Subtract the median and lp + hp = 43,633.29 - 14833.02 = 28,800.27.
That divided by 2 = 14400.135.
So add 1/2 the range to this and subtract 1/2 the range from this to get the lp and the hp.
If I didn't make an error, the lp is 13662.01 and the hp is 15138.25.
Check it out. The range is 1476.24.
mean is 14544.43 (One of the numbers comes out with an 0.005 so it isn't exactly a penny)
The same car at three different dealerships had a median price of $14,833.02. The mean price was
$14,544.43 and the range of prices was $1476.24. What were the three prices?
1 answer
1 answer