Question
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: $60,911.54
Square feet mean: 1,828
Square feet median: 1,844
Square feet standard deviation: 361.3641953
Picture of the national data graph:
Microsoft Word - Summary Statistics - Module 2, 3 - Adobe Acrobat Reader DC (64-bit) File Edit View Sign Window Help X Home Tools Microsoft Word - S... x ? 1 / 1 65% Summary Statistics for MAT 240 Real Estate Data (for dataset in Modules 2, 3, and 4) Mean Median Std. Dev. Min Q1 1,000 Q3 Max Listing 342,365 318,000 125,914 135,300 265,250 price ($) 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
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