In order to compare the real estate markets in Pittsburgh and Philadelphia, a realtor selected a random sample of 150 homes in the Pittsburgh area and 100 homes in the Philadelphia area. Shown below are dotplots showing the distribution of home price for the homes in these two cities.   The mean home price for both cities is approximately $500,000. The standard deviation of home price for one city is $100,740 and the other is $267,210. Which of the following gives the correct value and interpretation of the standard deviation of the home prices for homes in the Pittsburgh area? (A) The price of homes in the Pittsburgh sample are within $100,740 of the mean home price of $500,000. (B) In the sample of homes from Pittsburgh, most of the home prices are at least $100,740 above or below the mean home price of $500,000. (C) The price of the homes in the Pittsburgh sample typically vary by about $267,210 from the mean home price of $500,000. (D) In the sample of homes from Pittsburgh, the middle 50% of home prices are within $267,210 of the mean home price of $500,000. (E) The price of homes in the Pittsburgh sample are $100,740 from the mean home price of $500,000.

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In order to compare the real estate markets in Pittsburgh and Philadelphia, a realtor selected a random sample of 150 homes in the Pittsburgh area and 100 homes in the Philadelphia area. Shown below are dotplots showing the distribution of home price for the homes in these two cities.

 

The mean home price for both cities is approximately $500,000. The standard deviation of home price for one city is $100,740 and the other is $267,210. Which of the following gives the correct value and interpretation of the standard deviation of the home prices for homes in the Pittsburgh area?

  • (A) The price of homes in the Pittsburgh sample are within $100,740 of the mean home price of $500,000.
  • (B) In the sample of homes from Pittsburgh, most of the home prices are at least $100,740 above or below the mean home price of $500,000.
  • (C) The price of the homes in the Pittsburgh sample typically vary by about $267,210 from the mean home price of $500,000.
  • (D) In the sample of homes from Pittsburgh, the middle 50% of home prices are within $267,210 of the mean home price of $500,000.
  • (E) The price of homes in the Pittsburgh sample are $100,740 from the mean home price of $500,000.
1Pittsburgh
100
200
300
400
500
600
700
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900
1000
-Philadelphia
100
200
300
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500
Home Price (in thousands)
400
600
700
900
1000
Transcribed Image Text:1Pittsburgh 100 200 300 400 500 600 700 800 900 1000 -Philadelphia 100 200 300 800 500 Home Price (in thousands) 400 600 700 900 1000
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