A community may be considered sociologically healthier the more variability there is in its housing values (up to a point). A major newspaper in one city investigated housing costs in several communities in its area and is running a story on its findings. For one of the communities, a random sample of 28 houses was examined, and the current market price of each house was determined. The newspaper published the following histogram summarizing these 28 prices: Frequency 15- 12 10- 6 5+ 4 80 120 160 200 240 Current market price (in thousands of dollars) Based on this histogram, estimate the standard deviation of the sample of 28 prices. Carry your intermediate computations to at least four decimal places, and round your answer to at least one decimal place.

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
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A community may be considered sociologically healthier the more variability there is in its housing values (up to a point). A major newspaper in one city investigated housing costs in several communities in its area and is running a story on its findings. For one of the communities, a random sample of 28 houses was examined, and the current market price of each house was determined. The newspaper published the following histogram summarizing these 28 prices:

**Histogram Details:**
- **Y-Axis (Frequency):** Represents the number of houses.
- **X-Axis (Current market price in thousands of dollars):** Divided into four intervals: 80, 120, 160, 200, and 240.
- **Bars:**
  - 80-120K: Frequency of 6
  - 120-160K: Frequency of 6
  - 160-200K: Frequency of 12
  - 200-240K: Frequency of 4

Based on this histogram, estimate the standard deviation of the sample of 28 prices.

Carry your intermediate computations to at least four decimal places, and round your answer to at least one decimal place.
Transcribed Image Text:A community may be considered sociologically healthier the more variability there is in its housing values (up to a point). A major newspaper in one city investigated housing costs in several communities in its area and is running a story on its findings. For one of the communities, a random sample of 28 houses was examined, and the current market price of each house was determined. The newspaper published the following histogram summarizing these 28 prices: **Histogram Details:** - **Y-Axis (Frequency):** Represents the number of houses. - **X-Axis (Current market price in thousands of dollars):** Divided into four intervals: 80, 120, 160, 200, and 240. - **Bars:** - 80-120K: Frequency of 6 - 120-160K: Frequency of 6 - 160-200K: Frequency of 12 - 200-240K: Frequency of 4 Based on this histogram, estimate the standard deviation of the sample of 28 prices. Carry your intermediate computations to at least four decimal places, and round your answer to at least one decimal place.
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