What is the Price Relative of Entertainment Console?
Last Year vs This Year: Entertainment Console Price
Last year, a company sold entertainment consoles for $299. This year, they are selling the same consoles for $349. To calculate the price relative of the entertainment console, we can use the formula:
Price Relative = (New Price - Old Price) / Old Price * 100%
Plugging in the values:
Price Relative = ($349 - $299) / $299 * 100% = $50 / $299 * 100% ≈ 16.72%
Therefore, the price relative of the entertainment console is approximately 16.72%, indicating a percentage increase in the price from last year to this year.
Mean and Median in Numerical Variables
Only numerical variables—regardless of whether they are discrete or continuous—can be used to determine the mean. It can be calculated by merely dividing the total sum of all values.
Should numbers be in order to find the median?
The median refers to the value that falls in the middle of a group of numbers. In order to get the median value among a group of integers, the numbers must first be sorted, or arranged, in value order from lowest to highest or highest to lowest.
Which of the following describes the standard deviation?
A measurement of the variance of all data values from the mean is the standard deviation.
Should numerical variables be in order to find the median? How is the price relative of the entertainment console calculated? Numerical variables need to be in order to find the median because it helps identify the middle value in a dataset. The price relative of the entertainment console is calculated by using the formula: (New Price - Old Price) / Old Price * 100%.