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%..

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orchestra answered 1 year ago

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