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Question: The data setReal Estatecontains information on the listings of 1,047 real estate properties. Treating this data set as the population, use EXCEL to calculate
Question: The data setReal Estatecontains information on the listings of 1,047 real estate properties.
- Treating this data set as the population, use EXCEL to calculate the population mean of the Price variable. Report this value and include the EXCEL output.
- Use EXCEL to produce a histogram of the Price variable and include the output. Explain if the means of all possible random samples of size 30 from this population would form a normal distribution.
- Now use EXCEL to draw 300 samples of size 1, 10, and 30 from this real estate population and calculate the mean and standard deviation of the sample means and include your outputs.
- Use EXCEL to draw histogram of the sample means of size 1, 10 and 30 and include your outputs. Do they look mound shaped? Why or why not?
- Find the theoretical mean and standard deviation of the statistics involved in (c). Compare the mean and standard deviation of each generated empirical distribution with those of the respective theoretical distributions. Fill out the following table:
| n | Distribution (Approx.) | Theoretical | Empirical | |
| - | - | ? |                        |
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Management Accounting Information for Decision-Making and Strategy Execution
Authors: Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura, S. Mark Young
6th Edition
137024975, 978-0137024971
