The National Association of Realtors reported the median home price in the United States and the increase
Question:
The National Association of Realtors reported the median home price in the United States and the increase in median home price over a five-year period (The Wall Street Journal, January 16, 2006). Use the sample home prices ($1000s) shown here to answer the following questions.
a. What is the sample median home price? b. In January 2001, the National Association of Realtors reported a median home price of $139,300 in the United States. What was the percentage increase in the median home price over the five-year period? c. What are the first quartile and the third quartile for the sample data? d. Provide a five-number summary for the home prices. e. Do the data contain any outliers? f. What is the mean home price for the sample? Why does the National Association of Realtors prefer to use the median home price in its reports?
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a Arrange the data in ascending order 488 926 1110 9580 9959 23250 With n 14 the median is the avera...View the full answer
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