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Ok, here's the problem on my homework. There were 1600 robberies last year, and then the problem presents percentages, like, 10% of the time between 100 and 200 dollars worth of goods were stolen - I broke down the percentages into numerical values. I have the minimum amount of goods stolen (0) and the maximum (2500), but I don't know specifically the amount of robberies within the certain ranges. Like, I know there were for example, 50 robberies where between 100 and 200 dollars were stolen, but nothing else; and I'm supposed to calculate the mean. Do I just assign a midpoint for the value, like, 150 would be the designated amount and go from there? HELP!
Thanks!
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Yup, that's exactly what you do.
When you're given statistics in ranges like that, you have to assumed that there's a uniform distribution within each range.
Why did the vector cross the road?
It wanted to be normal.
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