Use the sample house prices (in $1,000s) shown in the table below to answer the following questions:
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Question:
Use the sample house prices (in $1,000s) shown in the table below to answer the following questions:
500
600
750
400
800
450
950
400
250
800
2000
700
600
300
(a) What are the mean and median for this dataset?
(b) What are the variance and standard deviation?
(c) Provide a five-number summary for house prices.
(d) Why is the median house price preferred to mean house price?
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