A random sample of eight house prices (in thousands ofS) in a large city yields the...
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A random sample of eight house prices (in thousands ofS) in a large city yields the following: X= (252, 126, 84, 216. 120, 105, 231, 210) a. Find the sample mean and median. Show your work. Which one is a better measure of central tendency in this example? b. Find the 25th percentile (Q1), 50 percentile (Q2), and 75 percentile (Q3). Show your work. c. Interpret the Q1, Q2, and Q3 estimates. d. Find the range and interquartile range. Which one is a better measure of variation in this example? Show your work. e. Present the 5-number summary for this example. Include in your answer both the range and the interquartile range. See, for instance, the example on page 4 of Unit 2 (Part B). f. Find the sample variance and standard deviation. Show your work. g. Interpret the standard deviation in this example. h. Find the coefficient of variation. Explain when we use the coefficient of variation (instead of the standard deviation). A random sample of eight house prices (in thousands ofS) in a large city yields the following: X= (252, 126, 84, 216. 120, 105, 231, 210) a. Find the sample mean and median. Show your work. Which one is a better measure of central tendency in this example? b. Find the 25th percentile (Q1), 50 percentile (Q2), and 75 percentile (Q3). Show your work. c. Interpret the Q1, Q2, and Q3 estimates. d. Find the range and interquartile range. Which one is a better measure of variation in this example? Show your work. e. Present the 5-number summary for this example. Include in your answer both the range and the interquartile range. See, for instance, the example on page 4 of Unit 2 (Part B). f. Find the sample variance and standard deviation. Show your work. g. Interpret the standard deviation in this example. h. Find the coefficient of variation. Explain when we use the coefficient of variation (instead of the standard deviation).
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Related Book For
Statistics For Business And Economics
ISBN: 9780132745659
8th Edition
Authors: Paul Newbold, William Carlson, Betty Thorne
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