91Ó°ÊÓ

• The mean of a data is: $\text{Mean}=\frac{\text{sumofallthenumbersindata}}{\text{Totalnumberofnumbersindata}}$
  
• The median of a data is calculated by arranging the numbers in data in ascending order then if:

1. The numbers in the data are odd, then the median is the middle term.
2. The numbers in data are even, then the median is the average of the middle term.

• The mode of data is the most repeated number of the data.

Numbers in data are(in ascending order): $0.50, $1.25, $2.00, $2.00, $2.50, $3.00, $3.50, $5.25, i.e. there are 8 numbers in data.

Use the formulae mentioned to find mean, median and mode.

$$\begin{gathered} \text{Mean}=\frac{\mathrm{\$}0.50+\mathrm{\$}1.25+\mathrm{\$}2.00+\mathrm{\$}2.00+\mathrm{\$}2.50+\mathrm{\$}3.00+\mathrm{\$}3.50+\mathrm{\$}5.25}{\text{8}} \\ =\frac{\mathrm{\$}20}{8} \\ =\mathrm{\$}2.5 \end{gathered}$$

Since there are 8 numbers(even) in data so the median is the average of middle terms that is 4th and 5th numbers, that is calculated as:

$$\begin{gathered} \text{Median}=\frac{\mathrm{\$}2.00+\$2.50}{\text{2}} \\ =\frac{\mathrm{\$}4.50}{2} \\ =\mathrm{\$}2.25 \end{gathered}$$

Thus, the median is $2.25.

And it can be noticed that $2.00 is repeated twice and most of the time, i.e., the mode of the data is $2.00.

Thus, the mean of the given data is $2.5, the median of the given data is $2.25, and the mode of the given data is $2.00.