dard Error 2.32 Median 220.00 Mode 200.00 Standard Deviatio
The weekly rental price (in dollars) of an area were collected. The summary statistics is given in Table 1.
Table 1: Summary statistics of weekly rental price
|
Mean |
236.29 |
|
Standard Error |
2.32 |
|
Median |
220.00 |
|
|
200.00 |
|
Standard Deviation |
? |
|
Sample Variance |
4046.86 |
|
Kurtosis |
0.56 |
|
Skewness |
0.88 |
|
|
? |
|
Minimum |
100.00 |
|
Maximum |
490.00 |
|
Sum |
177220.00 |
|
Count |
750 |
- Calculate the sample standard deviation, and range for the weekly rental price.
Value of the standard deviation: Click or tap here to enter text.
Value of the range: Click or tap here to enter text.
- In the summary statistics, the mean is greater than the median. Explain what this indicates about the shapes of the distributions.
Click or tap here to enter text.
- Any value of the variable with Z score less than -3.0, or greater than +3.0 is classified as outliers. Check whether the minimum and maximum are outliers.
The z score of the minimum: Click or tap here to enter text.
The z score of the maximum: Click or tap here to enter text.
Any outliers and explanation: Click or tap here to enter text.
Hint:
The formula for calculation of z score is as following:
μ: population mean
σ: population standard deviation
To answer this question, you can use the sample mean to replace the population mean, and sample standard deviation to replace population standard deviation when you calculate the z value.
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