House Prices The graphs show the house prices (in hundreds of thousands of dollars) in two fictitious towns. a. If you were describing the prices in Town A in terms of shape, center, and spread, without comparing them to the prices in Town B, would you use the mean and standard deviation or the median and interquartile range ? Why? b. If you were describing the prices in Town B in terms of shape, center, and spread, without comparing them to the prices in Town A, would you use the mean and standard deviation or the median and interquartile range? Why? c. If you were comparing the two groups, what measures would you use, and why? d. In which of the two graphs are the mean and median closer together, and why? e. In which of the two graphs are the mean and median farther apart, and which would be larger?
House Prices The graphs show the house prices (in hundreds of thousands of dollars) in two fictitious towns. a. If you were describing the prices in Town A in terms of shape, center, and spread, without comparing them to the prices in Town B, would you use the mean and standard deviation or the median and interquartile range ? Why? b. If you were describing the prices in Town B in terms of shape, center, and spread, without comparing them to the prices in Town A, would you use the mean and standard deviation or the median and interquartile range? Why? c. If you were comparing the two groups, what measures would you use, and why? d. In which of the two graphs are the mean and median closer together, and why? e. In which of the two graphs are the mean and median farther apart, and which would be larger?
Solution Summary: The author explains that median and interquartile range give the best measure when the distribution is strongly skewed on one side and has outliers.
House Prices The graphs show the house prices (in hundreds of thousands of dollars) in two fictitious towns.
a. If you were describing the prices in Town A in terms of shape, center, and spread, without comparing them to the prices in Town B, would you use the mean and standard deviation or the median and interquartile range? Why?
b. If you were describing the prices in Town B in terms of shape, center, and spread, without comparing them to the prices in Town A, would you use the mean and standard deviation or the median and interquartile range? Why?
c. If you were comparing the two groups, what measures would you use, and why?
d. In which of the two graphs are the mean and median closer together, and why?
e. In which of the two graphs are the mean and median farther apart, and which would be larger?
A marketing agency wants to determine whether different advertising platforms generate significantly different levels of customer engagement. The agency measures the average number of daily clicks on ads for three platforms: Social Media, Search Engines, and Email Campaigns. The agency collects data on daily clicks for each platform over a 10-day period and wants to test whether there is a statistically significant difference in the mean number of daily clicks among these platforms. Conduct ANOVA test.
You can provide your answer by inserting a text box and the answer must include: also please provide a step by on getting the answers in excel
Null hypothesis,
Alternative hypothesis,
Show answer (output table/summary table), and
Conclusion based on the P value.
A company found that the daily sales revenue of its flagship product follows a normal distribution with a mean of $4500 and a standard deviation of $450. The company defines a "high-sales day" that is, any day with sales exceeding $4800. please provide a step by step on how to get the answers
Q: What percentage of days can the company expect to have "high-sales days" or sales greater than $4800?
Q: What is the sales revenue threshold for the bottom 10% of days? (please note that 10% refers to the probability/area under bell curve towards the lower tail of bell curve)
Provide answers in the yellow cells
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