Question: 7. Judge whether the PRICE a variable has a normal shape and investigate possible outliers. a. Look at the Skewness and Kurtosis statistics and see

7. Judge whether the PRICE a variable has a normal shape
and investigate possible outliers. a. Look at the Skewness and Kurtosis statistics

7. Judge whether the PRICE a variable has a normal shape and investigate possible outliers. a. Look at the Skewness and Kurtosis statistics and see if they fall between -1 to +1. Write a sentence stating if assuming PRICE is a normal variable is ok. If no, why not? Confirm this by your statement by using a Normal Probability Plot (NPP) and box plot. b. If you found outliers, would removing them allow you to assume the data was Normal OK? Remove the outliers and recompute your answers for 6c-f. Discuss the effect of the outliers on your results. Use PHStat Probability and Prob Distrubutioins -> Normal Probability Plot or you can try manually creating a NPP by following the directions in the file NormProbPlot.doc or use NormalProbabilityPlot.xIsx which you can find on Laulima under Resources

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