The monthly rents (in dollars) paid by 7 people are given below.(Note that these are already ordered from least to greatest.)845, 955,985, 995, 1035, 1055, 1095Suppose that one of the people moves. Her rent changes from $845 to $1020.Answer the following.(a) What happens to the median?(6) What happens to the mean?It decreases by siO It increases by soIt stays the same. O It decreases by s. It increases by saO It stays the same. Х5?

Let us calculate the mean and median before and after the change in rent.

Before the change:

The mean monthly rent is given by

Mean = 995

The median monthly rent is the value in the middle of the data.

Note that the data is already sorted from least to greatest.

The 4th value in the data set is 995

Median = 995

After the change:

Now, the rent changes from $845 to $1020

So, the data becomes

1020, 955,985, 995, 1035, 1055, 1095

Arrange the data from least to greatest.

955, 985, 995, 1020, 1035, 1055, 1095

The mean monthly rent is given by

Mean = 1020

The median monthly rent is the value in the middle of the data

955, 985, 995, 1020, 1035, 1055, 1095

The 4th value in the data set is 1020

Median = 1020

(a) Change in median = 1020 - 995 = +25

It increases by $25

(b) Change in mean = 1020 - 995 = +25

It increases by $25

answer: the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.

step-by-step explanation:

the given rate of interest i= 85%

in calculating the monthly payment for a loan with an interest rate compounded monthly, the value of the interest rate per period we use in the formula must be in decimal form.

to convert it in decimal, we divide it by 100, we get

hence, the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.

b

2

−

b

b

3

+

7

b

2

+

14

b

+

6

%

−

3

b

3

+

7

b

2

+

14

b

+

6

%

step-by-step explanation: