The accompanying table shows the low price, the high price, and the average price of homes sold
Question:
a. Explain why the average price for the combined areas of Los Osos and Morro Bay is not just the average of $511,866 and $606,456.
b. Houses sold in Grover Beach and Paso Robles have very similar average prices. Based on the other information given, which is likely to have the higher standard deviation for price?
c. Consider houses sold in Grover Beach and Paso Robles. Based on the other information given, which is likely to have the higher median price?
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Related Book For
Statistics The Exploration & Analysis Of Data
ISBN: 9780840058010
7th Edition
Authors: Roxy Peck, Jay L. Devore
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