Sampling Distributions Real Estate QNT/351 Version 5 1 Data Property Address Listing Price 365 Lexington Manor, Cordova, TN 38018 9344 Oak Knoll CV, Cordova, TN 38018 144 E Rocky Point Rd, Cordova, TN 38018 356 Bluffside Pt, Cordova, TN 38018 9280 Riveredge Dr, Cordova, TN 38018 8992 Rockey Point Rd, Cordova, TN 38018 401 N Sanga Rd, Cordova, TN 38018 633 E Rocky Point Rd, Cordova, TN 38018 400 Bluff Ridge Cv, Cordova, TN 38018 9402 Greyhill Cv, Cordova, TN 38018 148 Fox Glade Ln, Cordova, TN 38018 116 S Beaver Valley Cv, Cordova, TN 38018 8946 S Doe Trail CV, Cordova, TN 38018 8314 Walnut Trail Cv,Cordova, TN 38018 9200 Rocky Cannon Rd, Cordova, TN 38018 319 N Walnut Bend Rd, Cordova, TN 38018 350 Bluff Ridge Cv, Cordova, TN 38018 151 Forest Hill-Irene Rd, Cordova, TN 38018 8925 S Doe Trail Cv, Cordova, TN 38018 9038 Red Tulip Cv, Cordova, TN 38018 9655 Grays Meadow Cv, Cordova, TN 38018 672 Sanga Creek Rd Cv, Cordova, TN 38018 932 Rocky Oaks Trl Cv, Cordova, TN 38018 8937 S Doe Trail Cv, Cordova, TN 38018 8258 Amber Springs Cv, Cordova, TN 38018 83 Hawk Galde Cv, Cordova, TN 38018 8960 Morning Grove Cv, Cordova, TN 38018 24 Grays Hollow Dr Cv, Cordova, TN 38018 784 E Rocky Point Rd Cv, Cordova, TN 38018 65 Timber View Cv, Cordova, TN 38018 10305 Kentwood Estates Dr Cv, Cordova, TN 38018 81 N Beaver Vally Cv Nw, Cordova, TN 38018 9730 Woodland Run Ln,Cv, Cordova, TN 38018 959 Rocky Oaks Trl Cv, Cordova, TN 38018 9713 Woodland Brook Ln Cv, Cordova, TN 38018 9667 Woodland Vista Cv, Cordova, TN 38018 225 Eagle Spring Cv, Cordova, TN 38018 $1,200,000 $849,900 $800,000 $725,000 $699,900 $599,900 $599,000 $594,550 $559,900 $550,000 $550,000 $539,900 $525,000 $500,000 $499,900 $499,000 $459,000 $450,000 $449,000 $428,400 $389,900 $389,000 $385,000 $379,900 $374,900 $369,950 $359,900 $353,900 $349,900 $343,872 $342,900 $340,000 $339,000 $338,350 $335,900 $335,900 $333,900 Copyright 2016 by University of Phoenix. All rights reserved. Square Footage 6,000-6,999 8,000-8,999 2,000-2,199 5,500-5,999 7,000-7,999 4,000-4,499 1,800-1,999 4,500-4,999 5,500-5,999 5,000-5,499 4,500-4,999 5,000-5,499 5,000-5,499 4,500-4,999 5,000-5,499 5,000-5,499 5,500-5,999 5,500-5,999 4,500-4,999 5,000-5,4999 4,000-4,499 3,600-3,799 N/A 4,000-4,499 4,500-4,999 3,800-3,999 3,600-3,799 3,400-3,599 2,800-2,999 4,500-4,999 4,500-4,999 3,600-3,799 4,000-4,499 3,400-3,599 3,800-3,999 3,000-3,199 4,500-4,999 # of BR 5 4 4 5 4 4 3 4 4 5 5 5 5 4 4 5 5 5 4 4 5 4 6 5 4 4 5 5 5 4 6 4 4 5 4 4 5 Sampling Distributions Real Estate QNT/351 Version 5 9689 Woodland Edge Ln Cv, Cordova, TN 38018 457 N Walnut Bend Rd Cv, Cordova, TN 38018 232 N Sanga St Cv, Cordova, TN 38018 140 W Viking Dr Cv, Cordova, TN 38018 700 Stonedale Cv, Cordova, TN 38018 9675 Woodland Hills Dr Cv, Cordova, TN 38018 9654 Grays Meadow Cv, Cordova, TN 38018 9753 Woodland Brook Cv, Cordova, TN 38018 817 Woodland Trees Dr Cv, Cordova, TN 38018 9636 Grays Meadow Dr Cv, Cordova, TN 38018 690 Rocky Brook Cv, Cordova, TN 38018 816 Woodland Trees Dr Cv, Cordova, TN 38018 10135 E Country Way Dr Cv, Cordova, TN 38018 9566 Grays Song Cv, Cordova, TN 38018 976 Mirror Lake Ln Cv, Cordova, TN 38018 40 Grays Hollow Dr Cv, Cordova, TN 38018 370 N Walnut Bend Dr Cv, Cordova, TN 38018 9725 Woodland Brook Ln Cv, Cordova, TN 38018 8936 Evening Grove Cv, Cordova, TN 38018 458 E Rocky Point Rd Cv, Cordova, TN 38018 9932 Woodland Hills Dr Cv, Cordova, TN 38018 9696 Woodland Brook Ln Cv, Cordova, TN 38018 8934 Rover Meadow Dr, Cordova, TN 38018 9672 Woodland Hills Dr, Cordova, TN 38018 446 West Riveredge Dr Dr Cordova, TN 38018 681 Rocky Brook Cv Cordova, TN 38018 9655 Woodland Brook Ln Cordova, TN 38018 9646 Woodland Creak CV Cordova, TN 38018 8311 Walnut Trl - Cordova, TN 38018 9682 Woodland Brook Ln - Cordova, TN 38018 22 Summer Grove Rd S - Cordova, TN 38018 72 N Forest Hill-Irene Rd - Cordova, TN 38018 7465 Cordova Club Dr S - Cordova, TN 38018 1629 Whisper Edge Cove Cv - Cordova, TN 38018 10 N plantation Oaks Dr Cordova, TN 38018 9712 Woodland Creek Crk - Cordova, TN 38018 10 N Forest Hill-Irene Rd - Cordova, TN 38018 203 Walnut Gardens Dr - Cordova, TN 38018 8879 Plantation Trail Cv - Cordova, TN 38018 9708 Woodland Hills Dr - Cordova, TN 38018 1115 Cordova Club Dr - Cordova, TN 38018 860 Winterfalls Trl - Cordova, TN 38018 9635 Grays Lake Dr - Cordova, TN 38018 8842 Quailwood Cv - Cordova, TN 38018 9032 Summer Grove Cv - Cordova, TN 38018 8935 Buckstone Cv - Cordova, TN 38018 $330,000 $329,900 $329,000 $325,000 $325,000 $318,000 $316,900 $302,900 $302,400 $299,900 $299,900 $299,900 $299,000 $296,900 $295,000 $294,900 $289,900 $289,900 $287,500 $283,000 $272,000 $270,000 $269,900 $269,900 $269,000 $267,035 $264,900 $264,500 $263,000 $229,900 $259,900 $249,000 $240,000 $239,959 $239,900 $239,900 $232,900 $229,900 $229,000 $229,000 $225,000 $225,000 $220,000 $219,710 $219,000 $215,000 Copyright 2016 by University of Phoenix. All rights reserved. 4,000-4,499 5,500-5,999 3,200-3,399 4,000-4,499 3,400-3,599 3,800-3,999 2,800-2,999 3,000-3,199 3,400-3,599 2,600-2,799 4,000-4,499 2,800-2,999 N/A 2,400-2,599 3,600-3,799 2,400-2,599 3,800-3,999 2,800-2,999 3,600-3799 4,000-4,499 3,800-3,999 2,600-2,799 3,200-3,399 3,200-3,399 3,200-3,399 3,000-3,199 2,600-2,799 3,400-3,599 4,500-4,999 3,400-3,599 3,400-3,599 3,000-3,199 3,200-3,399 2,600-2,799 N/A 2,200-2,399 2,600-2,799 3,400-3,599 3,200-3,399 3,000-3,199 3,400-3,599 2,000-2,199 N/A 2,800-2,999 2,600-2,799 3,000-3,1999 2 6 6 4 4 4 5 4 4 4 5 5 4 3 5 4 4 4 5 4 4 5 3 4 4 4 4 4 5 4 4 4 4 4 4 4 4 4 4 4 4 4 3 5 4 4 4 Sampling Distributions Real Estate QNT/351 Version 5 1163 Cordova Club Dr - Cordova, TN 38018 1254 Havenwood Dr - Cordova, TN 38018 8930 Buckstone Cv - Cordova, TN 38018 9606 Woodland Creek Ln - Cordova, TN 38018 8155 Walnut Creek Rd - Cordova, TN 38018 1119 Cordova Club Dr - Cordova, TN 38018 9198 Ivy League Ln - Cordova, TN 38018 1137 Cordova Club Dr - Cordova, TN 38018 9380 Rocky Woods Dr - Cordova, TN 38018 8391 Walnut Tree Dr - Cordova, TN 38018 8780 Forest Breeze Dr - Cordova, TN 38018 9148 Afton Grove Rd - Cordova, TN 38018 6911 Raleigh Lagrange Rd - Cordova, TN 38018 941 Spinnaker Ln - Cordova, TN 38018 8372 Bazemore Rd - Cordova, TN 38018 8853 Quailwood Cv - Cordova, TN 38018 9334 Walnut Grove Rd - Cordova, TN 38018 317 Mayhurst Ln - Cordova, TN 38018 $215,000 $214,900 $212,500 $210,000 $209,900 $205,000 $200,000 $200,000 $200,000 $199,000 $195,000 $193,500 $189,900 $189,900 $189,900 $189,900 $189,000 $185,000 3,000-3,199 2,800-2,999 3,200-3,399 2,400-2,599 2,800-2,999 2,800-2,999 2,400-2,599 2,400-2,599 2,800-2,999 0-999 2,400-2,599 N/A 1,800-1,999 2,400-2,599 2,800-2,999 2,800-2,999 2,000-2,199 2,600-2,799 University of Phoenix Material Sampling Distributions - Real Estate Part 2 Directions: Use the real estate data you used for your Week 2 learning team assignment. Analyze the data and explain your answers. 1. Review the data and for the purpose of this project please consider the 100 listing prices as a population. Explain what your computed population mean and population standard deviation were. 2. Divide the 100 listing prices into 10 samples of n=10 each. Each of your 10 samples will tend to be random if the first sample includes houses 1 through 10 on your spreadsheet, the second Copyright 2016 by University of Phoenix. All rights reserved. 3 4 5 5 3 5 4 5 3 5 4 4 4 3 3 4 4 4 4 Sampling Distributions Real Estate QNT/351 Version 5 sample consists of houses 11 through 20, and so on. Compute the mean of each of the 10 samples and list them: 3. Compute the mean of those 10 means. Explain how the mean of the means is equal, or not, to the population mean of the 100 listing prices from above. 4. Compute the standard deviation of those 10 means and compare the standard deviation of the 10 means to the population standard deviation of all 100 listing prices. Explain why it is significantly higher, or lower, than the population standard deviation. 5. Explain how much more or less the standard deviation of sample means was than the population standard deviation. According to the formula for standard deviation of sample means, it should be far less. (That formula is = /n = /10 = /3.16 ) Does your computed agree with the formula? 6. According to the Empirical Rule, what percentage of your sample means should be within 1 standard deviation of the population mean? Using your computed , do your sample means seem to conform to the rule? 7. According to the Empirical Rule, what percentage of your sample means should be within 2 standard deviations of the population mean? Again, do your sample means seem to conform to the rule? Copyright 2016 by University of Phoenix. All rights reserved. 4 Sampling Distributions Real Estate QNT/351 Version 5 8. You used the Empirical Rule because it really gives us more information (and because I asked you to), but truthfully you should have used Chebyshev's Theorem. Even though Chebyshev's doesn't tell us much, why should you have used that one instead? Copyright 2016 by University of Phoenix. All rights reserved. 5