a) Produce a histogram of the distribution of these prices. Comment on what this histogram reveals...

a) Produce a histogram of the distribution of these prices. Comment on what this histogram reveals about the distribution. [Be sure to relate your comments to the context, and refer to the shape, center, variability, and outliers (if any).]

price

413 413 455 455 459 465 495 495 499 499 500 500 504 510 515 520 529 529 529 530 535 570 570 579 585 589 599 600 650 660 665 665 695 698 699 699 699 700 795 799 799 800 800 813 814 819 819 819 829 848 849 850 855 855 879 880 884 895 899 899 899 900 907 909 932 950 950 975 976 976 979 987 990 998 998 998 999 999 999 999 1000 1000 1000 1000 1000 1009 1019 1020 1020 1044 1045 1048 1049 1078 1080 1080 1080 1099 1099 1099 1100 1100 1139 1150 1167 1169 1169 1170 1175 1191 1198 1199 1200 1200 1200 1200 1200 1200 1200 1207 1220 1222 1250 1250 1253 1253 1253 1277 1282 1282 1285 1295 1295 1299 1325 1325 1345 1347 1360 1395 1395 1399 1399 1400 1449 1449 1450 1450 1450 1450 1450 1450 1465 1482 1485 1498 1499 1499 1499 1500 1500 1500 1500 1500 1515 1537 1539 1547 1547 1547 1550 1550 1550 1550 1551 1556 1563 1565 1568 1590 1595 1595 1599 1599 1599 1600 1600 1618 1622 1650 1650 1650 1672 1695 1698 1698 1699 1736 1754 1759 1760 1767 1780 1807 1870 1895 1979 1995

Expert Solution

The given data is:

Prices
413
413
455
455
459
465
495
495
499
499
500
500
504
510
515
520
529
529
529
530
535
570
570
579
585
589
599
600
650
660
665
665
695
698
699
699
699
700
795
799
799
800
800
813
814
819
819
819
829
848
849
850
855
855
879
880
884
895
899
899
899
900
907
909
932
950
950
975
976
976
979
987
990
998
998
998
999
999
999
999
1000
1000
1000
1000
1000
1009
1019
1020
1020
1044
1045
1048
1049
1078
1080
1080
1080
1099
1099
1099
1100
1100
1139
1150
1167
1169
1169
1170
1175
1191
1198
1199
1200
1200
1200
1200
1200
1200
1200
1207
1220
1222
1250
1250
1253
1253
1253
1277
1282
1282
1285
1295
1295
1299
1325
1325
1345
1347
1360
1395
1395
1399
1399
1400
1449
1449
1450
1450
1450
1450
1450
1450
1465
1482
1485
1498
1499
1499
1499
1500
1500
1500
1500
1500
1515
1537
1539
1547
1547
1547
1550
1550
1550
1550
1551
1556
1563
1565
1568
1590
1595
1595
1599
1599
1599
1600
1600
1618
1622
1650
1650
1650
1672
1695
1698
1698
1699
1736
1754
1759
1760
1767
1780
1807
1870
1895
1979
1995

The histogram is a diagram that is built by obtaining a frequency distribution by calculating the number of values in certain bins.

Doing so, we get:

As can be seen, the distribution of prices is not even. It is very much skewed towards the left and peaks around 1000-1500.

orchestra answered 2 years ago

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