Suppose you live in a neighborhood with a few expensive homes and many modest homes.
1. If you wanted to impress people with the neighborhood where you lived, which measure would you give as the "average" property value?
2. Which "average" would you cite to the property tax committee if you wanted to convince them that property values aren't very high in your neighborhood?
3. What measure of central tendency would give the most representative "average" property value for your neighborhood? Explain.
4. Salaries A survey revealed that of University of North Carolina alumni entering employment in 1984, those with a major in geography had the highest mean starting salary of all majors. Discuss this conclusion, using the fact that Michael Jordan was in this group and majored in geography.