A real estate agent has been given 10 houses to list. The house prices in dollars are: 110,000 95,000 87,000 92,000 99,000 250,000 265,000 210,000 275,000 240,000 A potential buyer calls and asks about house prices in the area. What measure of central tendency would best describe this data set? How should the real estate agent report it? Justify your response.

A real estate agent has been given 10 houses to list. The house prices in dollars are: 110,000 95,000 87,000 92,000 99,000 250,000 265,000 210,000 275,000 240,000 A potential buyer calls and asks about house prices in the area. What measure of central tendency would best describe this data set? How should the real estate agent report it? Justify your response.

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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Question

100%

A real estate agent has been given 10 houses to list. The house prices in dollars are:

110,000

95,000

87,000

92,000

99,000

250,000

265,000

210,000

275,000

240,000

A potential buyer calls and asks about house prices in the area. What measure of central tendency would best describe this data set? How should the real estate agent report it? Justify your response.

Definition Definition Characteristic of data to concentrate at certain values, usually in the center of the distirbution. The central tendency of the data is measured by descriptive statistics like mean, median, and mode, which are known as measures of central tendency. Depending upon the type of data under study, some measures of central tendency become more appropriate to use than others.

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