10. 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 $350000, 50% of the houses cost below $450000, 75% of the houses cost below $1000000 and there are a meaningful number of houses that cost more than $6000000. b. Housing prices in a country where 25% of the houses cost below $300000, 50% of the houses cost below $600000, 75% of the houses cost below $900000 and very few houses that cost more than $1200000. 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.

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10. 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 $350000,
50% of the houses cost below $450000, 75% of the houses cost below
$1000000 and there are a meaningful number of houses that cost more than
$6000000.
b. Housing prices in a country where 25% of the houses cost below $300000,
50% of the houses cost below $600000, 75% of the houses cost below
$900000 and very few houses that cost more than $1200000.
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.
d. Annual salaries of the employees at a Fortune 500 company where only a
few high level executives earn much higher salaries than all the other
employees.
Transcribed Image Text:10. 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 $350000, 50% of the houses cost below $450000, 75% of the houses cost below $1000000 and there are a meaningful number of houses that cost more than $6000000. b. Housing prices in a country where 25% of the houses cost below $300000, 50% of the houses cost below $600000, 75% of the houses cost below $900000 and very few houses that cost more than $1200000. 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. d. Annual salaries of the employees at a Fortune 500 company where only a few high level executives earn much higher salaries than all the other employees.
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