Hi Dev,
Mean of 15 observation = Sum of 15 observations / 15
Now, incorrect mean = 75
Therefore, Incorrect mean = Incorrect sum / 15
75 = Incorrect Sum / 15
Incorrect Sum = 75 x 15 = 1125
Given, 61 was misread as 16.
So, we remove 16 and add 61
So, Correct Sum = Incorrect sum - 16 + 61
= 1125 - 16 + 61 = 1170
Thus, Correct Mean = Correct Sum / 15
= 1170/15 = 78