Gas Gauge: Some Economic Good News—Gas Prices in Geneva Drop Again

This is how awful a cynic I've become.

Gas prices in Geneva continued to drop this week. It's the fourth week in a row that's happened, and darned rosy news, especially considering the roller coaster ride we've endured the past week with the Dow Jones Industrial Average .

And this week, prices dropped by a whopping 13 cents a gallon, on average.

But I can't help wondering if there isn't someone, somewhere in an ivory tower saying, "Hmmm, maybe now's not the right time to hit Americans with higher gas prices. It might make the whole fragile world economy collapse, and we can't have that.

"We'll raise prices a little later."

Sorry, I'm not usually the conspiracy theory type.

The lowest price spotted in Geneva late Monday morning was Meijer and again at BP, both of which snuck in a penny lower than the majority, at $3.75. The highest, as usual, was the Citgo station on the West Side, at $3.79.

Back-to-school math quiz of the week: Can you name the mean, median and mode on this week's gas prices?

 

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Averages Means Medians And Modes - News


Gas Gauge: Some Economic Good News—Gas Prices in Geneva Drop Again

both of which snuck in a penny lower than the majority, at $3.75. The highest, as usual, was the Citgo station on the West Side, at $3.79. Back-to-school math quiz of the week: Can you name the mean, median and mode on this week's gas prices?



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Mean, Median and Mode: Journalists' Guide to Calculating ...

There are "words people" and "numbers people" and sometimes it seems that never the twain shall meet. But some mathematical concepts are essential for freelance journalists to understand. One of them is averages. The three basic techniques for calculating this number are called the "mean," the "median," and "the mode."

These three techniques have different purposes and uses. Freelancers often cover several different topics, each of which may have its own protocol for evaluating and presenting information. Or they may write for different markets and editors, each with a different requirement.

When you read in a housing report that the "average housing price in North America is $300,000" just what does that tell you? Does it mean that most of the houses are $300,000? Does it mean that you will be able to find a house at that price in your neighborhood? If you use that statistic in an article you are writing, do you understand how it was calculated and what information it conveys?

It is essential not only to use the right tool, but also to understand which tools were used in the compilation of facts and figures you are using to bolster the points in your article.

The Mean: The Sum Divided by its Parts

The mean is probably the most widely understood method of calculating averages. If we have three incomes to calculate, we add up them all up, then simply divide the total by three. The problem with this method is that it tends to skew high, which means that a few super-high earners can make the numbers unrealistic.

For (an extreme) example, suppose you work for Madame Huge Celebrity, who makes $100 million dollars a year. And let's suppose that there are 10 of you in the office, and you all make $50,000 a year. A census taker would not be incorrect to add up all your earnings (the 10 of you plus the celebrity boss; that comes to $100,500,000) and divide by 11.


Averages Means Medians And Modes - Bookshelf

Atlantic, Great Sea Battles, Heroic Discoveries, Titanic Storms, and a Vast Ocean of a Million Stories

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Crime and punishment

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But the calm, luxurious St. Petersburg life, busying itself only with the apparitions and reflections of life, went on as of old ; and through the tenor of ...

Romeo and Juliet

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Detailed Information Directory


Mean, Median, Mode, and Range
Explains how to compute the mean, median, mode, and range of a list of numbers. ... modes: 10 and 11. range: 5. While unusual, it can happen that two of the averages (the mean ...

Means, modes and medians
Means, modes and medians. What are the average heights, most common heights and the middle ... For example the mean (or average) height of 7 boys whose heights are ...

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cality, central tendency, and/or location (e.g., means and medians) ... Modes, Medians, Means, and More 83. Although mean ratings are widely used in all aspects ...

average: Definition, Synonyms from Answers.com
average n. Mathematics . A number that typifies a set of numbers of which it is a ... Means, medians, and modes are kinds of averages; usually, however, the term average ...

COMPASS® | Numerical Skills/Pre-Algebra Placement | ACT
(Averages: Means, Medians, and Modes) 1. What is the average ... COMPASS® but are similar in content and format. These items are presented for ...