Refer to the CREA (Canadian Real Estate Association) Cities Only data online, which reports information on average

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Refer to the CREA (Canadian Real Estate Association) Cities Only data online, which reports information on average house prices nationally and in a selection of cities across Canada.

a. Calculate the mean and the standard deviation for June 2016. Consider the data a population. Use the normal distribution to estimate the average house prices less than $400 000. Compare the estimate to the actual results. Does the normal distribution yield a good approximation of the actual results?

b. Calculate the mean and the standard deviation for January 2011. Consider the data a population. Use the normal distribution to estimate the average house prices more than $400 000. Compare the estimate to the actual results. Does the normal distribution yield a good approximation of the actual results?

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Basic Statistics For Business & Economics

ISBN: 9781259268939

6th Canadian Edition

Authors: Douglas A. Lind, William G Marchal, Samuel A. Wathen, Carol Ann Waite

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