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According to a government's census bureau, in February 2010, the median sales price of new houses was $220,500 and the mean sales price was $282,600.
According to a government's census bureau, in February 2010, the median sales price of new houses was $220,500 and the mean sales price was $282,600. a. Interpret the median sales price. b. Interpret the mean sales price. c. Discuss the shape of the distribution of the price of new houses. a. Choose the correct answer below. Half of the prices for a new house are smaller than or equal to $282,600, and the other half the prices for a new house are larger than or equal to $282,600. Half of the prices for a new house are smaller than $282,600, and the other half of the prices for a new house are larger than $282,600. Half of the prices for a new house are smaller than $220,500, and the other half of the prices for a new house are larger than $220,500. V Half of the prices for a new house are smaller than or equal to $220,500, and the other half the prices for a new house are larger than or equal to $220,500. b. Choose the correct answer below. V The arithmetic average price for a new house is $282,600. The most common price for a new house is $220,500. The most common price for a new house is $282,600. The arithmetic average price for a new house is $220,500. c. Choose the correct answer below. {:2- A. The shape of the distribution is a negative (left-skewed) shape. {:2- B. The shape of the distribution is a positive (right-skewed) shape. .33, C. The shape of the distribution is symmetric (zero skewness) shape
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