Aaron is an insulation contractor. The cost of his services depends on the size of the rooms and the quality of the insulation used. In one month, he completed projects that had the following costs:
$2195.00, $2160.00, $2130.00, $2295.00, $2085.00, $5996.00, $2173.00, $2318.00, $2197.00
What is the mean and trimmed mean cost of his services?
To find the mean cost of Aaron's services, we add up all the costs and divide by the total number of projects:
Mean = (2195 + 2160 + 2130 + 2295 + 2085 + 5996 + 2173 + 2318 + 2197) / 9
Mean = 19249 / 9
Mean = $2138.78
Next, to find the trimmed mean cost of his services, we will remove the highest and lowest values:
Trimmed mean = (2195 + 2160 + 2130 + 2295 + 2173 + 2318 + 2197) / 7
Trimmed mean = 15268 / 7
Trimmed mean = $2181.14
Therefore, the mean cost of Aaron's services is $2138.78 and the trimmed mean cost is $2181.14.