Question

The accompanying table shows the low price, the high price, and the average price of homes sold in 15 communities in San Luis Obispo County between January 1, 2004, and Au gust 1, 2004 (San Luis Obispo Tribune, Sep tem ber 5, 2004):
a. Explain why the average price for the combined areas of Los Osos and Morro Bay is not just the average of $511,866 and $606,456.
b. Houses sold in Grover Beach and Paso Robles have very similar average prices. Based on the other information given, which is likely to have the higher standard deviation for price?
c. Consider houses sold in Grover Beach and Paso Robles. Based on the other information given, which is likely to have the higher median price?


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  • CreatedSeptember 19, 2015
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