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The value, in thousands of dollars, for houses on a block, are: 45; 47; 47.5; 51; 53.5; 125 1. The mean for this data is 61.5 2. The median for this data is 3. Which do you think better reflects the average value of the homes on this block? 4. Explain your decision for (3).

The value, in thousands of dollars, for houses on a block, are: 45; 47; 47.5; 51; 53.5; 125 1. The mean for this data is 61.5 2. The median for this data is 3. Which do you think better reflects the average value of the homes on this block? 4. Explain your decision for (3).

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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### Calculating Measures of Central Tendency for Home Values The value, in thousands of dollars, for houses on a block, are: ``` 45; 47; 47.5; 51; 53.5; 125 ``` 1. **The mean for this data is:** ``` 61.5 ``` 2. **The median for this data is:** ``` [User Input] ``` 3. **Which do you think better reflects the average value of the homes on this block?** ``` [User Input] ``` 4. **Explain your decision for (3):** ``` [User Input] ``` ### Explanation of Terms: - **Mean:** The mean is calculated by adding all the values together and then dividing by the total number of values. - **Median:** The median is the middle value in a list of numbers. If there is an even number of observations, the median is the average of the two middle numbers. ### Activity Guidelines: 1. Calculate the **median** by first arranging the numbers in ascending order and then finding the middle value. 2. Reflect on whether the **mean** or the **median** better represents the average value of homes on this block. Consider the presence of any outlier values (e.g., 125), and how that might affect the mean. 3. Provide a brief explanation for your choice in question 3. ### Reflection: By comparing the mean and the median, you can better understand how different measures can provide insights into data, especially when outliers are present. This is a vital skill in data analysis, which can help you make more informed decisions based on numerical data.
Transcribed Image Text:### Calculating Measures of Central Tendency for Home Values The value, in thousands of dollars, for houses on a block, are: ``` 45; 47; 47.5; 51; 53.5; 125 ``` 1. **The mean for this data is:** ``` 61.5 ``` 2. **The median for this data is:** ``` [User Input] ``` 3. **Which do you think better reflects the average value of the homes on this block?** ``` [User Input] ``` 4. **Explain your decision for (3):** ``` [User Input] ``` ### Explanation of Terms: - **Mean:** The mean is calculated by adding all the values together and then dividing by the total number of values. - **Median:** The median is the middle value in a list of numbers. If there is an even number of observations, the median is the average of the two middle numbers. ### Activity Guidelines: 1. Calculate the **median** by first arranging the numbers in ascending order and then finding the middle value. 2. Reflect on whether the **mean** or the **median** better represents the average value of homes on this block. Consider the presence of any outlier values (e.g., 125), and how that might affect the mean. 3. Provide a brief explanation for your choice in question 3. ### Reflection: By comparing the mean and the median, you can better understand how different measures can provide insights into data, especially when outliers are present. This is a vital skill in data analysis, which can help you make more informed decisions based on numerical data.
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