Data on the amount of money made in a year by 1000 families in a small town were collected.
You want to know how much each family will get if the money made by all the 1000 families is
Pooled together and then evenly redistributed back to them.Which of the following would you
Compute?
A) Arithmetic mean.
B) Median.
C) Interquartile Range.
D) Coefficient of correlation.

Question

Quizplus · Accepted Answer

The arithmetic mean calculates the average amount each family would receive if the total money is evenly distributed among all families.

Data on the Amount of Money Made in a Year