The prices (in $ thousand) of a sample of three-bedroom homes for sale in Florida and Georgia are shown in the table. (Source: Zillow.com) 

a. In which state are homes typically more expensive? Support your Answer using an appropriate statistic. 

b. Which state has more variation in home prices? Support your answer using an appropriate statistic. 

c. Notice that one home price in the Florida data ($432.4 thousand) seems a unusually high when compared with the other home prices. What would happen to the standard deviation if this home price was removed from the data? Calculate the standard deviation, omitting this value from the data. Was your prediction correct?

Transcribed Image Text:

Georgia Home Prices ($ thousands) Florida Home Prices ($ thousands) 159.9 265 139.9 170 149.9 148 187.9 182 199 220.5 345 282.9 209.9 230 229.9 123.9 319.9 149.9 234.9 359.9 312.3 385 432.4 199.2 256 254.9