Question

This chart shows the top five salaries for the Los Angeles Dodgers in 2015. Find the mean and mean absolute value of this set of data. Then, explain what the mean absolute value means within this situation.
Chart⇣
Top Five Salaries
(In millions of dollars)
28
21.8
21.1
19
15.5

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1. Step-by-step explanation:
The mean and mean absolute deviation of this set of data is 21.08 and 0 respectively. Step-by-step explanation: We are given the data about the top five salaries for the Los Angeles Dodgers in 2015 below;         Top Five Salaries (X)                         (Absolute deviation)                     28                                                 28 – 21.08 = 6.92                    21.8                                               21.8 – 21.08 = 0.72                    21.1                                                21.1 – 21.08 = 0.02                     19                                                 19 – 21.08 = -2.08                   15.5                                               15.5 – 21.08 = -5.58   Total        105.4                                                                0               Firstly, the mean of the data is given by the following formula;                     Mean, =                                    =                                    = 21.08 Now, for finding the absolute deviations, we have subtracted the mean from each of the data values. So, mean absolute deviation =                                                 =                                                 = 0 The mean absolute deviation means how much each data value in our data is away from the mean. And according to the given situation, the mean absolute deviation means that on average the top five salaries are 0 points away from the mean salary of 21.08.

2. 