Difference Between Essential and Discretionary Expenses Questions

Identify the difference between essential and discretionary expenses.Section 9 topic 5
Discretionary and Essential Expenses- 1
Measures of Central Tendency
The three measures of central tendency are mean, median, and mode. The
Mean: is the average of the data values.
Median: is the middle data value.
Mode is the most frequently occurring data value.
Range: is a measure of spread and is found by subtracting the lowest data
value from the highest.
In this lesson a formula is derived to find a missing data number given the
mean and the number of data values.
Discretionary and Essential Expenses-2
Median, and Mode
Other Central Tendency Values.
Find the Median
1) Organize the data in increasing order.
1.95, 2.05,
2.15, 2.40, 2.85. 3.0
2) Average /mean of the two middle values:
(2.15 + 2.40) / 2 = 2.275
Answer: Median = 2.275
Mode: The repeated value.
In these group of values, there are not repeated value, there
is not Mode.
Range: 3.0 – 1.95 = 1.05
Second NW. Assignment # 1. Discretionary and Essential
Expenses. Measure of Central Tendency
Section 9 topic 5.
Word Problem. Show your work.
Center and Spread of Data. Find the Mean, Median, Mode and
Range for each data set.