MATH 302 American Public University The Median Measures Vehicle Price Discussion

I’m studying for my Mathematics class and don’t understand how to answer this. Can you help me study? 


You must respond to at least 2 other students outside your initial thread. Responses should be a minimum of 50 words and may include direct questions. In your peer posts, consider the summary statistics of your classmates' data sets. After the supercar was added to the data set, which summary statistic do you think more accurately reflects the typical vehicle price - the mean or median? Compare the standard deviation before the supercar was added and after it was added. Does this indicate greater variability in the original or modified data set? Based on this information, do you feel the standard deviation can help you identify the presence of an outlier? Why or why not? In your responses, refer to the specific data from your classmates' posts. The reading below pertains to lesson for this forum.Read Quantitative Information Analysis III Chapter 2: Descriptive Statistics and Chapter 13.4 Scatter PlotsForum Post 1:Good Evening Class,While the median measures the center of data or the “middle value,” the mean is the average which can be found by adding all numbers together and dividing by the amount of numbers added. Standard deviation measures the a value is away from it’s mean value. I chose to added a 2020 Porsche due to the fact that I used to work at a Porsche dealership as a receptionist in the past. In both of the samples, the median did not change due to the fact that it is still in the middle. I see that my classmates medians differ slightly, but my calculator continues to give me the same result for the median (Med) for both samples. The mean on the other hand (average), altered drastically ($186,204) when the 2020 Porsche, worth over $2 million dollars, was added. With that being said, the mean is a more accurate representation of the typical vehicle price. The standard deviation (or measurement from the mean) also rose ($610,911). This can help us clearly tell that there is an outlier and clearly that is the value of the Porsche because it does not fit in with the overall data. With the numbers being more spread out now, there is more variation.Descriptive statistics:Mean: 25,023.70Median: 23,578Standard Deviation: 6,690.51Descriptive statistics (with Porsche):Mean: 211,227.64Median: 23,578Standard Deviation: 617,601.21Forum Post 2:Hello everyone!I picked a McLauren speedtail for my 2.2 million dollar car, although Im not very into fancy cars this one looked like a lot of fun ha-ha. I was anticipating that my mean would change dramatically and it definitely did! I was surprised by how much the median changed though. I would think that the median would more accurately show vehicle prices given the data. Ive really enjoyed these since Im so unfamiliar with excel! Its been really helpful! I look forward to reading everyone's and seeing what car they picked and how the data changed!mean48813.1median47043sd22826.5514sample size10  mean244375.545 median55499 sd648968.656 sample size11