Question: IFUL = Q 3 + 1.5*IQR = 1563 +1.5*1108 = 3225 ($000) IFIL = Q 1 - 1.5*IQR = 455 - 1.5*1108 = -1207 ($000)
IFIL = Q1- 1.5*IQR = 455 - 1.5*1108 = -1207 ($000)
Sold Price ($000) Mean 1930.12 Standard Error 558.82 Median 945 Mode 340 Standard Deviation 3831.05 Sample Variance 14676912 Kurtosis 32.43 Skewness 5.37 Range 25365 Minimum 135 Maximum 25500 Sum 90715.45 Count 47
Based on the limits calculated in (b), choose from the numerical summary measures provided in the Descriptive Statistics table, and/or measures calculated previously in Task 3; (i) an appropriate measure of central tendency, and, (1 mark) (ii) an appropriate measure of dispersion for your sample "Sold Price" data. (1 mark) Provide a brief explanation of the reasoning behind your choice in both cases. (1 mark)
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