Construct the sparkline of new home sales prices yearwise.

Question

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Answer 1

Question

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.

Chapter 2, Problem 67PS

a.

To determine

Construct the sparkline of new home sales prices yearwise.

b.

To determine

Draw the conclusion about the median sales price of new single-family houses sold in United States.

c.

To determine

Compare the above obtained spark lines with the time series plot shown in problem 2.55.

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Answer 2

Question

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.

Chapter 2, Problem 67PS

a.

To determine

Construct the sparkline of new home sales prices yearwise.

b.

To determine

Draw the conclusion about the median sales price of new single-family houses sold in United States.

c.

To determine

Compare the above obtained spark lines with the time series plot shown in problem 2.55.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 3

Question

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.

Chapter 2, Problem 67PS

a.

To determine

Construct the sparkline of new home sales prices yearwise.

b.

To determine

Draw the conclusion about the median sales price of new single-family houses sold in United States.

c.

To determine

Compare the above obtained spark lines with the time series plot shown in problem 2.55.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 4

Question

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.

Chapter 2, Problem 67PS

a.

To determine

Construct the sparkline of new home sales prices yearwise.

b.

To determine

Draw the conclusion about the median sales price of new single-family houses sold in United States.

c.

To determine

Compare the above obtained spark lines with the time series plot shown in problem 2.55.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 5

Chapter 2, Problem 67PS

a.

To determine

Construct the sparkline of new home sales prices yearwise.

b.

To determine

Draw the conclusion about the median sales price of new single-family houses sold in United States.

c.

To determine

Compare the above obtained spark lines with the time series plot shown in problem 2.55.

Answer 6

Chapter 2, Problem 67PS

a.

To determine

Construct the sparkline of new home sales prices yearwise.

Answer 7

Chapter 2, Problem 67PS

a.

To determine

Construct the sparkline of new home sales prices yearwise.

Answer 8

b.

To determine

Draw the conclusion about the median sales price of new single-family houses sold in United States.

Answer 9

b.

To determine

Draw the conclusion about the median sales price of new single-family houses sold in United States.

Answer 10

c.

To determine

Compare the above obtained spark lines with the time series plot shown in problem 2.55.

Answer 11

c.

To determine

Compare the above obtained spark lines with the time series plot shown in problem 2.55.

Answer 12

Expert Solution & Answer

Answer 13

Expert Solution & Answer

Answer 14

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Answer 15

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Construct the sparkline of new home sales prices yearwise.

Solution Summary: The author explains the steps used to draw the sparkline of new home sales prices yearwise. The data is given for each month from January 2000 to December 2016.

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Construct the sparkline of new home sales prices yearwise.

Draw the conclusion about the median sales price of new single-family houses sold in United States.

Compare the above obtained spark lines with the time series plot shown in problem 2.55.

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Chapter 2 Solutions