Stats: Modeling the World Nasta Edition Grades 9-12
3rd Edition
ISBN: 9780131359581
Author: David E. Bock, Paul F. Velleman, Richard D. De Veaux
Publisher: PEARSON
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Question
Chapter 5, Problem 5E
a)
To determine
To explain whether prices appears to be the same in the four markets.
a)
Expert Solution
Answer to Problem 5E
No, prices are not same.
Explanation of Solution
Given:
Calculation:
From box plots, it appears that the prices are higher on average in Baltimore as compared to other three markets. The difference in prices of Denver, Dallas and Chicago is very small.
b)
To determine
To explain whether presence of outlier affect on overall market prices.
b)
Expert Solution
Answer to Problem 5E
An outliers will not affect to our conclusion given in part a.
Explanation of Solution
Given:
Calculation:
There are outliers at lower end for Baltimore and Chicago however, at higher end for Dallas. But these outliers will not affect to our conclusion given in part a.
Chapter 5 Solutions
Stats: Modeling the World Nasta Edition Grades 9-12
Ch. 5 - Prob. 1ECh. 5 - Prob. 5ECh. 5 - Prob. 6ECh. 5 - Prob. 7ECh. 5 - Prob. 8ECh. 5 - Prob. 9ECh. 5 - Prob. 10ECh. 5 - Prob. 11ECh. 5 - Prob. 12ECh. 5 - Prob. 13E
Ch. 5 - Prob. 14ECh. 5 - Prob. 15ECh. 5 - Prob. 16ECh. 5 - Prob. 17ECh. 5 - Prob. 18ECh. 5 - Prob. 19ECh. 5 - Prob. 20ECh. 5 - Prob. 21ECh. 5 - Prob. 22ECh. 5 - Prob. 23ECh. 5 - Prob. 24ECh. 5 - Prob. 25ECh. 5 - Prob. 26ECh. 5 - Prob. 27ECh. 5 - Prob. 28ECh. 5 - Prob. 29ECh. 5 - Prob. 30ECh. 5 - Prob. 31ECh. 5 - Prob. 32ECh. 5 - Prob. 33ECh. 5 - Prob. 34ECh. 5 - Prob. 35ECh. 5 - Prob. 36ECh. 5 - Prob. 37ECh. 5 - Prob. 38ECh. 5 - Prob. 39ECh. 5 - Prob. 40ECh. 5 - Prob. 41ECh. 5 - Prob. 42E
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