Calculate the sum of the amounts spent by the 10 students: 11.01 + 10.75 + 12.09 + 15.25 + 12.72 + 9.36 + 5.00 + 26.50 + 12.00 + 15.00 = 129.68 .
Divide the sum by the number of students (10) to find the mean amount spent: 10 129.68 = 12.968 .
Round the mean amount to the nearest hundredth: 12.968 ≈ 12.97 .
The mean amount spent by these students is $12.97 .
Explanation
Problem Analysis We are given the amounts spent by 10 students at a McDonald's restaurant and asked to find the mean amount spent, rounded to the nearest hundredth.
Calculate the Sum To find the mean, we need to sum all the amounts and divide by the number of students, which is 10. The amounts are: 11.01, 10.75, 12.09, 15.25, 12.72, 9.36, 5.00, 26.50, 12.00, 15.00.
Sum Calculation The sum of the amounts is: 11.01 + 10.75 + 12.09 + 15.25 + 12.72 + 9.36 + 5.00 + 26.50 + 12.00 + 15.00 = 129.68
Calculate the Mean Now, we divide the sum by the number of students (10) to find the mean: 10 129.68 = 12.968
Round to Nearest Hundredth Finally, we round the mean to the nearest hundredth: 12.968 ≈ 12.97
Final Answer The mean amount spent by the students, rounded to the nearest hundredth, is $12.97 .
Examples
Understanding the mean is very useful in everyday life. For example, if you want to know the average amount you spend on groceries each week, you can calculate the mean of your weekly grocery bills. Similarly, if you are tracking your expenses, finding the mean expense can help you understand your spending habits and budget accordingly. This concept is also used in businesses to analyze sales data and make informed decisions.