A study of the records of 85,000 apartment units in a greater metropolitan area revealed the following data. Year 2002 2003 2004 2005 2006 Average Rent, $ 1348 1336 1312 1308 1355 Find the average of the average rent for the 5 years in question. (Round your answer to the nearest whole number.)$ What is the standard deviation for these data? (Round your answer to two decimal places.)$ the answer for this one isn't 21.08
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
A study of the records of 85,000 apartment units in a greater metropolitan area revealed the following data.
| Year | 2002 | 2003 | 2004 | 2005 | 2006 |
|---|---|---|---|---|---|
| Average Rent, $ | 1348 | 1336 | 1312 | 1308 | 1355 |
Find the average of the average rent for the 5 years in question. (Round your answer to the nearest whole number.)
$
What is the standard deviation for these data? (Round your answer to two decimal places.)
$ the answer for this one isn't 21.08
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 4 images
