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1.56 Distributions and appropriate statistics (Part II): For each of the following, state whether you expect the distribution to be symmetric, right skewed, or left skewed. Also specify whether the mean or median would best represent a typical observation in the data, and whether the variability of observations would be best represented using the standard deviation or IQR. Explain your reasoning. (a) Housing prices in a country where 25% of the houses cost below $350,000, 50% of the houses cost below $450,000, 75% of the houses cost below $1,000,000 and there are a meaningful number of houses that cost more than $6,000,000. The distribution is expected to be: symmetric right skewed O left skewed A typical observation is best represented by the: O median O mean The variability in the observations is best measured by the: O IQR O standard deviation (b) Housing prices in a country where 25% of the houses cost below $300,000, 50% of the houses cost below $600,000, 75% of the houses cost below $900,000 and very few houses that cost more than $1,200,000. The distribution is expected to be: O right skewed O left skewed O symmetric A typical observation is best represented by the: O median mean

1.56 Distributions and appropriate statistics (Part II): For each of the following, state whether you expect the distribution to be symmetric, right skewed, or left skewed. Also specify whether the mean or median would best represent a typical observation in the data, and whether the variability of observations would be best represented using the standard deviation or IQR. Explain your reasoning. (a) Housing prices in a country where 25% of the houses cost below $350,000, 50% of the houses cost below $450,000, 75% of the houses cost below $1,000,000 and there are a meaningful number of houses that cost more than $6,000,000. The distribution is expected to be: symmetric right skewed O left skewed A typical observation is best represented by the: O median O mean The variability in the observations is best measured by the: O IQR O standard deviation (b) Housing prices in a country where 25% of the houses cost below $300,000, 50% of the houses cost below $600,000, 75% of the houses cost below $900,000 and very few houses that cost more than $1,200,000. The distribution is expected to be: O right skewed O left skewed O symmetric A typical observation is best represented by the: O median mean

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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1.56 Distributions and appropriate statistics (Part II): For each of the following, state whether you expect the distribution to be symmetric, right skewed, or left skewed. Also specify whether the mean or median would best represent a typical observation in the data, and whether the variability of observations would be best represented using the standard deviation or IQR. Explain your reasoning. (a) Housing prices in a country where 25% of the houses cost below $350,000, 50% of the houses cost below $450,000, 75% of the houses cost below $1,000,000 and there are a meaningful number of houses that cost more than $6,000,000. The distribution is expected to be: O symmetric O right skewed O left skewed A typical observation is best represented by the: O median O mean The variability in the observations is best measured by the: O IQR O standard deviation (b) Housing prices in a country where 25% of the houses cost below $300,000, 50% of the houses cost below $600,000, 75% of the houses cost below $900,000 and very few houses that cost more than $1,200,000. The distribution is expected to be: O right skewed O left skewed O symmetric A typical observation is best represented by the: O median mean
Transcribed Image Text:1.56 Distributions and appropriate statistics (Part II): For each of the following, state whether you expect the distribution to be symmetric, right skewed, or left skewed. Also specify whether the mean or median would best represent a typical observation in the data, and whether the variability of observations would be best represented using the standard deviation or IQR. Explain your reasoning. (a) Housing prices in a country where 25% of the houses cost below $350,000, 50% of the houses cost below $450,000, 75% of the houses cost below $1,000,000 and there are a meaningful number of houses that cost more than $6,000,000. The distribution is expected to be: O symmetric O right skewed O left skewed A typical observation is best represented by the: O median O mean The variability in the observations is best measured by the: O IQR O standard deviation (b) Housing prices in a country where 25% of the houses cost below $300,000, 50% of the houses cost below $600,000, 75% of the houses cost below $900,000 and very few houses that cost more than $1,200,000. The distribution is expected to be: O right skewed O left skewed O symmetric A typical observation is best represented by the: O median mean
The variability in the observations is best measured by the: O IQR O standard deviation (c) Number of alcoholic drinks consumed by college students in a given week. Assume that most of these students don't drink since they are under 21 years old, and only a few drink excessively. The distribution is expected to be: O left skewed O right skewed O symmetric A typical observation is best represented by the: O median O mean The variability in the observations is best measured by the: O IQR O standard deviation (d) Annual salaries of the employees at a Fortune 500 company where only a few high level executives earn much higher salaries than the all other employees. The distribution is expected to be: O left skewed O symmetric O right skewed A typical observation is best represented by the: O mean O median
Transcribed Image Text:The variability in the observations is best measured by the: O IQR O standard deviation (c) Number of alcoholic drinks consumed by college students in a given week. Assume that most of these students don't drink since they are under 21 years old, and only a few drink excessively. The distribution is expected to be: O left skewed O right skewed O symmetric A typical observation is best represented by the: O median O mean The variability in the observations is best measured by the: O IQR O standard deviation (d) Annual salaries of the employees at a Fortune 500 company where only a few high level executives earn much higher salaries than the all other employees. The distribution is expected to be: O left skewed O symmetric O right skewed A typical observation is best represented by the: O mean O median
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