Median Property Value by State: Homes 2010-2012 US Census Report Home Value Price In Current Dollars 2010-2012 Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming $123,400 $241,400 $158,100 $106,900 $358,800 $235,800 $278,600 $235,900 $436,000 $154,900 $149,300 $503,100 $160,000 $179,900 $122,600 $124,300 $128,500 $120,800 $138,800 $173,900 $289,300 $328,300 $119,200 $185,800 $100,000 $137,100 $183,600 $127,800 $161,300 $239,100 $325,800 $159,300 $286,700 $152,800 $130,500 $130,600 $112,900 $233,900 $164,700 $245,300 $136,300 $131,600 $138,400 $128,400 $209,000 $215,700 $243,100 $256,500 $98,300 $167,200 $183,200 By Rank West Virginia Mississippi Arkansas Oklahoma Michigan Kentucky Indiana Alabama Iowa Nebraska Texas Kansas North Dakota Ohio South Dakota South Carolina Missouri Tennessee Louisiana Georgia North Carolina Florida Arizona New Mexico Idaho Nevada Pennsylvania Wisconsin Maine Illinois Wyoming Montana Minnesota Utah Vermont Oregon Colorado Delaware New Hampshire Alaska Virginia Rhode Island Washington Connecticut New York Maryland New Jersey Massachusetts California District of Columbia Hawaii $98,300 $100,000 $106,900 $112,900 $119,200 $120,800 $122,600 $123,400 $124,300 $127,800 $128,400 $128,500 $130,500 $130,600 $131,600 $136,300 $137,100 $138,400 $138,800 $149,300 $152,800 $154,900 $158,100 $159,300 $160,000 $161,300 $164,700 $167,200 $173,900 $179,900 $183,200 $183,600 $185,800 $209,000 $215,700 $233,900 $235,800 $235,900 $239,100 $241,400 $243,100 $245,300 $256,500 $278,600 $286,700 $289,300 $325,800 $328,300 $358,800 $436,000 $503,100 Data from Home Value and Homeownership Rates: Recession and Post-Recession Comparisons From 2007-2009 to 2010-2012 US Census Report ACSBR 12-20 Steps to Using the Statistical Functions Built in Excel The problem to be solved in week 3 is typical of the kinds of larger data sets one might get at work rather than smaller data sets like are often in an ALEKS problem. So this week's problem can be solved quickly with a program like Excel. Try these steps. 1. When you open the Excel file, first take you cursor and click on Enable Editing. The file is now ready for you to use. 2. Next take your cursor and place it on any open cell and click. Then type 'mean'. 3. Now in the cell next to the word 'mean, again place the cursor and click. The cell should look like it has a black box around it. 4. Now, look at the top tool bar. You will see the word Formulas. Click on Formulas. 5. Now look in the middle tool bar and you will see some icons that look like books, one of which is labeled More Formulas. Click on More Formulas. Then click on the down arrow and you should see that the first set of functions listed is Statistical. 6. Slide over to open the list and pick Average. 7. When you click on Average, a Function Box will open in the middle of your screen. 8. It is asking you to fill in for which data you want to calculate the mean. 9. Slide the cursor over to F4 the cell, next to West Virginia in the data ranked from low to high. 10. Now just click and hold down as you scroll to the bottom of the list, F54 next to Hawaii. 11. Now go back to the function box, and click ok. 12. The value for the mean should appear next to the word mean. Next, go back up and right under where you typed mean, type in the next thing you want to calculate, median. We will use the data this is already sorted, so we don't have to do that step. Here are the next steps. 1. 2. 3. 4. 5. 6. 7. Put the cursor in the cell next to the word median and click. Go back up to Formulas and then down to More Formulas and Statistical should show up. Click on the down arrow and the same list you got last time should show up. Slide down to Median and click. Again a Function Box should open in your screen. It is asking you to highlight the data for which you want the median. As before simply go over to F4 next to West Virginia, click and hold down to highlight all the way to F54 next Hawaii. 8. Go back to the Function Box and click ok. 9. The value for the median should show up next to where you have written median. You will essentially do the same steps to get the variance and the standard deviation. Note, for both the variance and the standard deviation you will have to choose between the calculation for a sample or a population. For example the sample standard deviation in excel is the option St Dev.S. For a population standard deviations the option is St.Dev.P. Now suppose you want to select a sample of 10 observations. You can do that by putting the selected 10 in any open column. Now you can calculate the mean, etc for the smaller group, by repeating the above steps