PUTTING IT ALL TOGETHER Real Statistics - Real Decisions You are a member of your local apartment association. The association represents rental housing owners and managers who operate residential rental property throughout the greater metropolitan area. AMERICA'S Recently, the association has received several complaints from tenants NA LEADING in a particular area of the city who feel that their monthly rental fees ADVOCATE FOR are much higher compared to other parts of the city. NATIONAL APARTMENT QUALITY RENTAL You want to investigate the rental fees. You gather the data shown in the table at the right. Area A represents the area of the city where ASSOCIATION HOUSING tenants are unhappy about their monthly rents. The data represent the monthly rents paid by a random sample of tenants in Area A and three other areas of similar size. Assume all the apartments represented are approximately the same size with the same amenities. The Monthly Rents (in dollars) Paid by 12 Randomly Selected Apartment EXERCISES Tenants In 4 Areas of Your City Area I Area D 1. How Would You Do In 1275 1124 1085 928 (a) How would you investigate the complaints from renters who are unhappy about their monthly rents? 11 10 954 827 1096 975 815 793 (b) Which statistical measure do you think would best represent 862 the data sets for the four areas of the city? 1078 1170 735 (c) Calculate the measure from part (b) for each of the four areas. 1040 843 919 2 Displaying the Data 997 345 943 812 1119 796 756 1232 (a) What type of graph would you choose to display the data? Explain your reasoning. 908 816 765 1086 (b) Construct the graph from part (a). 890 038 809 914 (c) Based on your data displays, does it appear that the monthly 1055 1082 1020 rents in Area A are higher than the rents in the other areas of RG 750 710 1005 the city? Explain. 975 703 775 930 3. Measuring the Data (a) What other statistical measures in this chapter could you use to analyze the monthly rent data? Highest Monthly Rents (b) Calculate the measures from part (a). AVERAGE PER CITY (c) Compare the measures from part (b) with the graph you constructed in Exercise 2. Do the measurements support your New York, MY $2922 conclusion in Exercise 2? Explain. San Francisco, CA $1904 A. Discussing the Data Boston. MA $1658 (a) Do you think the complaints in Area A are legitimate? How do San Jose, CA $1612 you think they should be addressed? Los Angeles, CA $1452 (b) What reasons might you give as to why the rents vary among different areas of the city? (Source: Forbes)