Statistical Techniques in Business and Economics
16th Edition
ISBN: 9780077639723
Author: Lind
Publisher: Mcgraw-Hill Course Content Delivery
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Textbook Question
Chapter 3, Problem 86DE
Refer to the Real Estate data, which reports information on homes sold in the Goodyear, Arizona, area during the last year. Prepare a report on the selling prices of the homes. Be sure to answer the following questions in your report.
- a. Around what values do the data tend to cluster? What is the
mean selling price? What is themedian selling price? Is one measure more representative of the typical selling prices than the others? - b. What is the
range of selling prices? What is the standard deviation? About 95% of the selling prices are between what two values?
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Chapter 3 Solutions
Statistical Techniques in Business and Economics
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