Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need to compare the characteristics of my sample data as to how it compares to the national data pictured below. I concluded that my

I need to compare the characteristics of my sample data as to how it compares to the national data pictured below. I concluded that my sample is not a good representative of the national housing market due to some of the numbers being far away, is this correct? Although, some of them are also quite close but I'm not sure if this is an indication of a good representative with the national data graph.

The sample data:

Listing price mean: $320,366

Listing price median: $323,100

Listing price standard deviation: $60,911.54

Square feet mean: 1,828

Square feet median: 1,844

Square feet standard deviation: 361.3641953

Picture of the national data graph:

image text in transcribed
Microsoft Word - Summary Statistics - Module 2, 3 - Adobe Acrobat Reader DC (64-bit) File Edit View Sign Window Help X Home Tools Microsoft Word - S... x ? 1 / 1 65% Summary Statistics for MAT 240 Real Estate Data (for dataset in Modules 2, 3, and 4) Mean Median Std. Dev. Min Q1 1,000 Q3 Max Listing 342,365 318,000 125,914 135,300 265,250 price ($) 381,600 987,600 Cost per 1,000 160 16 139 191 square 344 foot ($) Square 1,000 2,111 1,881 921 1,101 Po feet 1,626 2,215 6,516 This graph shows the frequency for listing price. National Lbdine Pikes (59) 380 250 190 This graph shows the frequency for square feet. National Listing's Square Feet 300 200 1 +

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Basic Mathematics With Early Integers

Authors: Charles P McKeague

1st Edition

1936368978, 9781936368976

More Books

Students also viewed these Mathematics questions

Question

2. Ask questions, listen rather than attempt to persuade.

Answered: 1 week ago