The weekly rental price (in dollars) of an area were collected. The summary statistics is given in Table 1.

Table 1: Summary statistics of weekly rental price

Mean = 236.29

Standard Error = 2.32

Median = 220.00

Mode= 200.00

Standard Deviation =?

Sample Variance =4046.86

Kurtosis =0.56

Skewness =0.88

Range =?

Minimum =100.00

Maximum =490.00

Sum =177220.00

Count =750

1) Calculate the sample standard deviation, and range for the weekly rental price.

Value of the standard deviation: ........................

Value of the range: ........................

2) In the summary statistics, the mean is greater than the median. Explain what this indicates about the shapes of the distributions.

3) Any value of the variable with Z score less than -3.0, or greater than +3.0 is classified as outliers. Check whether the minimum and maximum are outliers.

The z score of the minimum: ............

The z score of the maximum: ...............

Any outliers and explanation: ..............

Hint: The formula for calculation of z score is as following: = ( )/ : population mean : population standard deviation To answer this question, you can use the sample mean to replace the population mean, and sample standard deviation to replace population standard deviation when you calculate thez value