Mike, Ana, Tiffany, Josh and Annie are heading to the store to get some snacks. Mike has $1, Ana has $2, Tiffany has $3, Josh has $4, and Annie has $5.
- What’s the average (mean) amount of cash the five kids have? What’s the median? Show all your work, calculations.
- A few days later, Annie’s family won the lottery, and the kids go together to the store to get some snacks again. This time Mike has $1, Ana has $2, Tiffany has $3, Josh has $4, and Annie has wad of cash totaling $5,000.
- What’s the average (mean) amount of cash the five kids have this time? What’s the median?
- From part a, how have the mean and the median changed? Elaborate on your reasoning.
- Which one – the mean or the median – is a better reflection of how much money they have together as a distribution and why is this? Take your time before answering.
