To determine how the mean of the yearly fundraiser totals compares to the median, let's walk through the steps to compute both the mean and the median, and finally compare the two values.
1. List of Totals:
We have the yearly totals: 896, 925, 880, 963, and 914.
2. Mean Calculation:
The mean (average) is calculated by adding all the totals and then dividing by the number of values.
[tex]\[
\text{Mean} = \frac{896 + 925 + 880 + 963 + 914}{5} = \frac{4578}{5} = 915.6
\][/tex]
3. Median Calculation:
To find the median, we first arrange the totals in ascending order: 880, 896, 914, 925, 963.
Since there are five numbers, the median is the third number in this ordered list.
Thus, the median is 914.
4. Comparison of Mean and Median:
Next, we compare the two values:
- Mean: 915.6
- Median: 914
The difference between the median and the mean is:
[tex]\[
\text{Difference} = \text{Median} - \text{Mean} = 914 - 915.6 = -1.6
\][/tex]
This means the median is found to be \$1.60 less than the mean.
Therefore, the correct answer is:
- "The mean is \$1.60 greater than the median."
