Question
A1. There are 1,245 single-family residences in Lupine Village, each with an assessed value for tax purposes. Jonelle reported the median assessed value as $210,000
A1. There are 1,245 single-family residences in Lupine Village, each with an assessed value for tax purposes. Jonelle reported the median assessed value as $210,000 and also found that the 75th percentile was $260,000. Tom reported the mean assessed value as $240,000 and he also found that the standard deviation of values was $140,000. The annual school tax is computed as 2% of the assessed value.
Mark each of the following statements as true or false.
_____(a) For about half the residences, the assessed value is over $240,000.
_____(b) At least one residence has an assessed value of exactly $210,000.
_____(c) Tom's calculation allows us to find the total assessed value of all 1,245 residences.
_____(d) The median tax per residence is $4,200.
_____(e) The standard deviation of the tax per residence cannot be computed from this information.
_____(f) More than 25% of the residences have assessed values between $210,000 and $240,000.
_____(g) At most 25% of the residences have assessed values above $520,000 = $240,000 + (2 $140,000).
_____(h) More than half the tax is collected from those residences with assessed values above $210,000.
_____(i) There must be at least one residence with assessed value below $100,000 = $240,000 - $140,000.
_____(j) The coefficient of variation for these values is = 0.5833. $140, 000 $240, 000
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