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Data from home sales above, separated into 3 zip codes. 1) For each zip code find: sample size, mean and standard deviation for the price of the homes. 93905 n= X= S= 93906 n= X= S= 93905 2) What do the mean and standard deviations tell you about home prices in the 3 zip codes? 3) For each zip code, find the z-score for a house that costs $800. Would that price be unusual in any of these zip codes? Explain. 93901 X= S= 93906 93901

Data from home sales above, separated into 3 zip codes. 1) For each zip code find: sample size, mean and standard deviation for the price of the homes. 93905 n= X= S= 93906 n= X= S= 93905 2) What do the mean and standard deviations tell you about home prices in the 3 zip codes? 3) For each zip code, find the z-score for a house that costs $800. Would that price be unusual in any of these zip codes? Explain. 93901 X= S= 93906 93901

MATLAB: An Introduction with Applications
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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### Real Estate Data by Zip Code This table provides information on residential properties, detailing their zip code, price, number of bedrooms, number of bathrooms, and square footage. The data is segmented by different zip codes: 93905, 93906, and 93901. #### Zip Code: 93905 - **Properties** - Various listings with prices ranging from $405 to $800 - Bedrooms range from 2 to 5 - Bathrooms range from 1 to 3 - Square footage ranges from 729 to 3704 #### Zip Code: 93906 - **Properties** - Listings priced between $609 and $1069 - Bedrooms from 2 to 6 - Bathrooms range from 1 to 3 - Square footage spans from 1112 to 3043 #### Zip Code: 93901 - **Properties** - Prices from $565 to $685 - Bedrooms range from 2 to 3 - Bathrooms are either 1 or 2 - Square footage from 816 to 1420 ### Data Summary and Analysis - **Price Range**: The highest prices are in zip codes 93905 and 93906, reflecting larger or more luxurious properties. - **Bedroom Count**: Most properties have 3 bedrooms, indicating a common preference for family-size homes. - **Square Footage**: A wide range in square footage suggests diverse property sizes, accommodating different buyer needs. This data can be useful for understanding trends in real estate pricing, housing characteristics, and regional differences.
Transcribed Image Text:### Real Estate Data by Zip Code This table provides information on residential properties, detailing their zip code, price, number of bedrooms, number of bathrooms, and square footage. The data is segmented by different zip codes: 93905, 93906, and 93901. #### Zip Code: 93905 - **Properties** - Various listings with prices ranging from $405 to $800 - Bedrooms range from 2 to 5 - Bathrooms range from 1 to 3 - Square footage ranges from 729 to 3704 #### Zip Code: 93906 - **Properties** - Listings priced between $609 and $1069 - Bedrooms from 2 to 6 - Bathrooms range from 1 to 3 - Square footage spans from 1112 to 3043 #### Zip Code: 93901 - **Properties** - Prices from $565 to $685 - Bedrooms range from 2 to 3 - Bathrooms are either 1 or 2 - Square footage from 816 to 1420 ### Data Summary and Analysis - **Price Range**: The highest prices are in zip codes 93905 and 93906, reflecting larger or more luxurious properties. - **Bedroom Count**: Most properties have 3 bedrooms, indicating a common preference for family-size homes. - **Square Footage**: A wide range in square footage suggests diverse property sizes, accommodating different buyer needs. This data can be useful for understanding trends in real estate pricing, housing characteristics, and regional differences.
**Data from home sales above, separated into 3 zip codes:** 1. **For each zip code, find: sample size, mean, and standard deviation for the price of the homes.** | Zip Code | Sample Size (n) | Mean (x̄) | Standard Deviation (s) | |----------|-----------------|----------|------------------------| | 93905 | | | | | 93906 | | | | | 93901 | | | | 2. **What do the mean and standard deviations tell you about home prices in the 3 zip codes?** 3. **For each zip code, find the z-score for a house that costs $800. Would that price be unusual in any of these zip codes? Explain.** | Zip Code | Z-score for $800 | |----------|------------------| | 93905 | | | 93906 | | | 93901 | | **Note:** The table of data lists home prices and transaction counts for different transactions within the specified zip codes: - **93905**: Prices and counts for homes in this zip code. - **93906**: Prices and counts for homes in this zip code. - **93901**: Prices and counts for homes in this zip code. To complete this exercise, calculate the sample size (n), mean (x̄), and standard deviation (s) for the home prices in each zip code. Then, analyze the variations and trends indicated by these statistics and use them to calculate z-scores for specific home prices. **Example of calculations needed:** - Mean calculation: \( x̄ = \frac{\Sigma \text{(Home Prices)}}{n} \) - Standard deviation calculation involves finding the variance first: \( s^2 = \frac{\Sigma (\text{price} - x̄)^2}{n-1} \), then \( s = \sqrt{s^2} \) - Z-score calculation for a home price of $800: \( Z = \frac{\text{Price} - x̄}{s} \)
Transcribed Image Text:**Data from home sales above, separated into 3 zip codes:** 1. **For each zip code, find: sample size, mean, and standard deviation for the price of the homes.** | Zip Code | Sample Size (n) | Mean (x̄) | Standard Deviation (s) | |----------|-----------------|----------|------------------------| | 93905 | | | | | 93906 | | | | | 93901 | | | | 2. **What do the mean and standard deviations tell you about home prices in the 3 zip codes?** 3. **For each zip code, find the z-score for a house that costs $800. Would that price be unusual in any of these zip codes? Explain.** | Zip Code | Z-score for $800 | |----------|------------------| | 93905 | | | 93906 | | | 93901 | | **Note:** The table of data lists home prices and transaction counts for different transactions within the specified zip codes: - **93905**: Prices and counts for homes in this zip code. - **93906**: Prices and counts for homes in this zip code. - **93901**: Prices and counts for homes in this zip code. To complete this exercise, calculate the sample size (n), mean (x̄), and standard deviation (s) for the home prices in each zip code. Then, analyze the variations and trends indicated by these statistics and use them to calculate z-scores for specific home prices. **Example of calculations needed:** - Mean calculation: \( x̄ = \frac{\Sigma \text{(Home Prices)}}{n} \) - Standard deviation calculation involves finding the variance first: \( s^2 = \frac{\Sigma (\text{price} - x̄)^2}{n-1} \), then \( s = \sqrt{s^2} \) - Z-score calculation for a home price of $800: \( Z = \frac{\text{Price} - x̄}{s} \)
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