The asking prices in thousands of dollars for 25 single family residences listed in a city...

The asking prices in thousands of dollars for 25 single family residences listed in a city in California are given below. 370.0 269.0 290.9 398.0 326.0 218.9 249.9 239.0 498.9 334.0 288.9 324.0 328.0 300.0 361.0 294.0 319.0 330.0 366.0 339.0 310.9 294.0 270.9 349.0 326.0 (a) Locate the largest and smallest prices and use the range to approximate the standard deviation (in thousands of dollars). $ thousand (b) Calculate the sample mean x (in thousands of dollars). x = $ thousand Calculate the sample standard deviation s (in thousands of dollars). s = $ thousand Compare s with the approximation obtained in part (a). The actual value is very close to the estimate, since the difference is within 5. The actual value is close to the estimate, since the difference is between 5 and 10. The actual value is not markedly different from the estimate, since the difference is between 10 and 20. The actual value is not close to the estimate, since the difference is more than 20. (c) Find the percentage of prices that falls into the interval x ± 2s. % Compare with the corresponding percentage given by the Empirical Rule. The proportion of measurements in this interval is not close to the proportion given by the Empirical Rule, since the difference is more than 2%. The proportion of measurements in this interval is close to the proportion given by the Empirical Rule, since the difference is within 2%..

Expert Solution

orchestra answered 2 years ago

House prices: The following table presents prices, in thousands of dollars, of single-family homes for 20...

House prices: The following table presents prices, in thousands of dollars, of single-family homes for 20 of the 25 largest metropolitan areas in the United States for the third quarter of 2012 and the third quarter of 2013. Metro Area 2012 2013 Metro Area 2012 2013 Atlanta, GA 87.8 115.1 Philadelphia, PA 193.5 197.7 Baltimore, MD 218.1 226.5 Phoenix, AZ 129.9 169.0 Boston, MA 311.5 332.2 Portland, OR 208.6 246.5 Chicago, IL 157.2 159.4 Riverside, CA 174.3 216.7 Cincinnati, OH...

The yearly salary (in thousands of dollars) for a small company are listed below. Find the...

The yearly salary (in thousands of dollars) for a small company are listed below. Find the mode, mean, median and population standard deviation and use the Empirical Rule to find a 95% confidence interval. 74 67 39 75 98 67 460 96

The mean annual income for people in a certain city (in thousands of dollars) is 42,...

The mean annual income for people in a certain city (in thousands of dollars) is 42, with a standard deviation of 30. A pollster draws a sample of 92 people to interview. A) What is the probability that the sample mean income is less than 37? Round the answer to at least four decimal places. B) What is the probability that the sample mean income is between 40 and 44? Round the answer to at least four decimal places. C)...

Sample annual salaries? (in thousands of? dollars) for employees at a company are listed. 50 50??...

Sample annual salaries? (in thousands of? dollars) for employees at a company are listed. 50 50?? 47 47?? 59 59?? 54 54?? 28 28?? 28 28?? 50 50?? 47 47?? 59 59?? 27 27?? 54 54?? 50 50?? 45 45 ?(a) Find the sample mean and sample standard deviation. ?(b) Each employee in the sample is given a 5 5?% raise. Find the sample mean and sample standard deviation for the revised data set. ?(c) To calculate the monthly? salary,...

Sample annual salaries (in thousands of dollars) for employees at a company are listed. 43, 54,...

Sample annual salaries (in thousands of dollars) for employees at a company are listed. 43, 54, 55, 51, 33, 33, 43, 54, 55, 26, 51, 43, 46 (a) Find the sample mean and sample standard deviation. (b) Each employee in the sample is given a $3000 raise. Find the sample mean and sample standard deviation for the revised data set. (c) Each employee in the sample takes a pay cut of $2000 from their original salary. Find the sample mean...

Sample annual salaries (in thousands of dollars) for employees at a company are listed. 55 38...

Sample annual salaries (in thousands of dollars) for employees at a company are listed. 55 38 53 58 41 41 55 38 53 29 58 55 43 (a) Find the sample mean and the sample standard deviation. (b) Each employee in the sample is given a $5000 raise. Find the sample mean and the sample standard deviation for the revised data set. (c) each employee in the sample takes a pay cut of $2000 from the original salary. Find the...

Sample annual salaries (in thousands of dollars) for employees at a company are listed. 54 49...

Sample annual salaries (in thousands of dollars) for employees at a company are listed. 54 49 44 51 32 32 54 49 44 30 51 54 48 (a) Find the sample mean and the sample standard deviation. (b) Each employee in the sample is given a 6% raise. Find the sample mean and the sample standard deviation for the revised data set. (c) To calculate the monthly salary, divide each original salary by 12. Find the sample mean and the...

Sample annual salaries (in thousands of dollars) for employees at a company are listed. 40 35 ...

Sample annual salaries (in thousands of dollars) for employees at a company are listed. 40 35 44 51 39 39 40 35 44 30 51 40 47 (a) Find the sample mean and sample standard deviation. (b) Each employee in the sample is given a $3000 raise. Find the sample mean and sample standard deviation for the revised data set. (c) Each employee in the sample takes a pay cut of $2000 from their original salary. Find the sample mean...

Sample annual salaries (in thousands of dollars) for employees at a company are listed. 52 40 ...

Sample annual salaries (in thousands of dollars) for employees at a company are listed. 52 40 47 63 33 33 52 40 47 25 63 52 53 (a) Find the sample mean and sample standard deviation. (b) Each employee in the sample is given a $2000 raise. Find the sample mean and sample standard deviation for the revised data set. (c) Each employee in the sample takes a pay cut of $5000 from their original salary. Find...

Sample annual salaries (in thousands of dollars) for employees at a company are listed. 52 49 ...

Sample annual salaries (in thousands of dollars) for employees at a company are listed. 52 49 45 51 38 38 52 49 45 34 51 52 42 (a) Find the sample mean and sample standard deviation. (b) Each employee in the sample is given a 5% raise. Find the sample mean and sample standard deviation for the revised data set. (c) To calculate the monthly salary, divide each original salary by 12. Find the sample mean and sample...

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