The dot-plot of Figure 8.8 shows the median values of single-family housing (in thousands of dollars) in 152 U.S. metropolitan areas across the United States. These data have a mean of 167.19, a median of 141.80, and a standard deviation of 85.96. Four random samples, each of size n = 5, were selected from 152 values; the sample data are displayed below.Sample 1Sample 2Sample 3Sample 497.3429.9219.1108.6155.3145.2116.3109.185.9132.8169.3290.7111.4323.2209.8129.9121.1402.0109.1216.5 Calculate the sample mean and standard deviation for each sample. Compare them to the population mean and standard deviation. Comment on the problems of estimating μ and σ for the type of population shown here. sy syllanonfor stang80160240320400480560Single family housing prices in metropolitan US (2009 1st quarter)

I have calculated using Excel- Formula used in Excel: Mean=AVERAGE(range of values) Standard…

Answered: The dot-plot of Figure 8.8 shows the…

MATLAB: An Introduction with Applications

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ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

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The dot-plot of Figure 8.8 shows the median values of single-family housing (in thousands of dollars) in 152 U.S. metropolitan areas across the United States. These data have a mean of 167.19, a median of 141.80, and a standard deviation of 85.96. Four random samples, each of size n = 5, were selected from 152 values; the sample data are displayed below.

Sample 1	Sample 2	Sample 3	Sample 4
97.3	429.9	219.1	108.6
155.3	145.2	116.3	109.1
85.9	132.8	169.3	290.7
111.4	323.2	209.8	129.9
121.1	402.0	109.1	216.5

Calculate the sample mean and standard deviation for each sample. Compare them to the population mean and standard deviation. Comment on the problems of estimating μ and σ for the type of population shown here.

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Single family housing prices in metropolitan US (2009 1st quarter)

Definition Definition Middle value of a data set. The median divides a data set into two halves, and it also called the 50th percentile. The median is much less affected by outliers and skewed data than the mean. If the number of elements in a dataset is odd, then the middlemost element of the data arranged in ascending or descending order is the median. If the number of elements in the dataset is even, the average of the two central elements of the arranged data is the median of the set. For example, if a dataset has five items—12, 13, 21, 27, 31—the median is the third item in ascending order, or 21. If a dataset has six items—12, 13, 21, 27, 31, 33—the median is the average of the third (21) and fourth (27) items. It is calculated as follows: (21 + 27) / 2 = 24.

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