#4) The following is a collection of 50 apartment rent prices in a Rochester, New York neighborhood in dollars from the lowest price of $1100 a month to the highest price of $4000 a month: 1100 1100 1100 1100 1200 1200 1300 1500 2000 2200 2900 1600 2000 2300 2900 1800 2000 2300 3100 1800 2000 2400 3100 1800 2000 2400 3100 1900 2100 2400 3100 1900 2100 2500 3100 1300 1900 2100 2600 3100 1400 1900 2200 2900 3200 a) Find the range and mode of this collection of data. If the data is multimodal, list them all. 1500 1900 2200 2900 4000 b) Find the upper and lower fences for this data. Are any of these prices outliers? If so, state which ones. c) The mean and standard deviation of the Rochester neighborhood rent prices are $1852 and $321.61 respectively. Meanwhile, the mean and standard deviation of rent of a Binghamton neighborhood are $2088 $172.07 respectively. Is a $2400 a month apartment for rent more relatively expensive in Rochester, or in Binghamton? Explain your answer
#4) The following is a collection of 50 apartment rent prices in a Rochester, New York neighborhood in dollars from the lowest price of $1100 a month to the highest price of $4000 a month: 1100 1100 1100 1100 1200 1200 1300 1500 2000 2200 2900 1600 2000 2300 2900 1800 2000 2300 3100 1800 2000 2400 3100 1800 2000 2400 3100 1900 2100 2400 3100 1900 2100 2500 3100 1300 1900 2100 2600 3100 1400 1900 2200 2900 3200 a) Find the range and mode of this collection of data. If the data is multimodal, list them all. 1500 1900 2200 2900 4000 b) Find the upper and lower fences for this data. Are any of these prices outliers? If so, state which ones. c) The mean and standard deviation of the Rochester neighborhood rent prices are $1852 and $321.61 respectively. Meanwhile, the mean and standard deviation of rent of a Binghamton neighborhood are $2088 $172.07 respectively. Is a $2400 a month apartment for rent more relatively expensive in Rochester, or in Binghamton? Explain your answer
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Transcribed Image Text:#4) The following is a collection of 50 apartment rent prices in a Rochester, New York neighborhood in dollars
from the lowest price of $1100 a month to the highest price of $4000 a month:
1100
1100
1100
1100
1200
1200
1300
1500
2000
2200
2900
1600
2000
2300
2900
1800
2000
2300
3100
1800
2000
2400
3100
1800
2000
2400
3100
1900
2100
2400
3100
1900
2100
2500
3100
1300
1900
2100
2600
3100
1400
1900
2200
2900
3200
a) Find the range and mode of this collection of data. If the data is multimodal, list them all.
1500
1900
2200
2900
4000
b) Find the upper and lower fences for this data. Are any of these prices outliers? If so, state which ones.
c) The mean and standard deviation of the Rochester neighborhood rent prices are $1852 and $321.61
respectively. Meanwhile, the mean and standard deviation of rent of a Binghamton neighborhood are $2088
$172.07 respectively. Is a $2400 a month apartment for rent more relatively expensive in Rochester, or in
Binghamton? Explain your answer
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