The May 1, 2009, issue of a certain publication reported the following home sale amounts for a sample of homes in Alameda, CA that were sold the previous month (1,000s of $). 593 812 577 605 348 1,286 405 544 555 680 USE SALT (a) Calculate and interpret the sample mean and median. The sample mean is x = thousand dollars and the sample median is x = means that the average sale price for a home in this sample was $ ---Select--- price, while half were more than the ---Select-- price. thousand dollars. This and that half the sales were for less than the (b) Suppose the 6th observation had been 985 rather than 1,286. How would the mean and median change? O Changing that one value has no effect on the sample mean but raises the sample median. O Changing that one value has no effect on the sample mean but lowers the sample median. O Changing that one value raises the sample mean but has no effect on the sample median. O Changing that one value lowers the sample mean but has no effect on the sample median. O Changing that one value has no effect on either the sample mean nor the sample median. (c) Calculate a 20% trimmed mean by first trimming the two smallest and two largest observations. (Round your answer to the nearest hundred dollars.) $ (d) Calculate a 15% trimmed mean. (Round your answer to the nearest hundred dollars.)
The May 1, 2009, issue of a certain publication reported the following home sale amounts for a sample of homes in Alameda, CA that were sold the previous month (1,000s of $). 593 812 577 605 348 1,286 405 544 555 680 USE SALT (a) Calculate and interpret the sample mean and median. The sample mean is x = thousand dollars and the sample median is x = means that the average sale price for a home in this sample was $ ---Select--- price, while half were more than the ---Select-- price. thousand dollars. This and that half the sales were for less than the (b) Suppose the 6th observation had been 985 rather than 1,286. How would the mean and median change? O Changing that one value has no effect on the sample mean but raises the sample median. O Changing that one value has no effect on the sample mean but lowers the sample median. O Changing that one value raises the sample mean but has no effect on the sample median. O Changing that one value lowers the sample mean but has no effect on the sample median. O Changing that one value has no effect on either the sample mean nor the sample median. (c) Calculate a 20% trimmed mean by first trimming the two smallest and two largest observations. (Round your answer to the nearest hundred dollars.) $ (d) Calculate a 15% trimmed mean. (Round your answer to the nearest hundred dollars.)
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
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Transcribed Image Text:The May 1, 2009, issue of a certain publication reported the following home sale amounts for a sample of homes in Alameda, CA
that were sold the previous month (1,000s of $).
593 812 577 605 348 1,286 405 544 555 680
(a) Calculate and interpret the sample mean and median.
The sample mean is x =
thousand dollars and the sample median is X =
means that the average sale price for a home in this sample was $
---Select--- price, while half were more than the ---Select--- price.
USE SALT
$
(b) Suppose the 6th observation had been 985 rather than 1,286. How would the mean and median change?
O Changing that one value has no effect on the sample mean but raises the sample median.
O Changing that one value has no effect on the sample mean but lowers the sample median.
O Changing that one value raises the sample mean but has no effect on the sample median.
O Changing that one value lowers the sample mean but has no effect on the sample median.
O Changing that one value has no effect on either the sample mean nor the sample median.
thousand dollars. This
and that half the sales were for less than the
(c) Calculate a 20% trimmed mean by first trimming the two smallest and two largest observations. (Round your answer to the
nearest hundred dollars.)
$
(d) Calculate a 15% trimmed mean. (Round your answer to the nearest hundred dollars.)
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