1.69 A different type of mean.
brands
The trimmed mean is a measure of center that is more resistant than the mean but uses more of the available information than the median. To compute the 5% trimmed mean, discard the highest 5% and the lowest 5% of the observations, and compute the mean of the remaining 90%. Trimming eliminates the effect of a small number of outliers. Use the data on the values of the top 100 brands that we studied in Exercise 1.53 (page 36) to find the 5% trimmed mean. Compare this result with the value of the mean computed in the usual way.
1.69
The 5% trimmed mean is 12.78. The original mean was 14.92. The 5% trimmed mean is not as influenced by the large outliers as the original mean.