Refertotheprevioustwoexercises.Considerthesellingprices(inthousandsofdollars)inthe Houses data filementionedinExercise4.31. (a) FitthenormaldistributiontothedatabyfindingtheMLestimatesof and for that distribution. (b) Fitthelog-normaldistributiontothedatabyfindingtheMLestimatesofitsparameters. (c) FindandcomparetheMLestimatesofthemeanandstandarddeviationofsellingprice for
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Refertotheprevioustwoexercises.Considerthesellingprices(inthousandsofdollars)inthe Houses data filementionedinExercise4.31.
(a) FitthenormaldistributiontothedatabyfindingtheMLestimatesof μ and σ for that distribution.
(b) Fitthelog-normaldistributiontothedatabyfindingtheMLestimatesofitsparameters.
(c) FindandcomparetheMLestimatesofthemeanandstandarddeviationofsellingprice for thetwodistributions.
(d) Superimposethefittednormalandlog-normaldistributionsonahistogramofthedata.
Whichdistributionseemstobemoreappropriateforsummarizingthesellingprices?
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Related Book For 
Foundations Of Statistics For Data Scientists With R And Python
ISBN: 9780367748456
1st Edition
Authors: Alan Agresti
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