Producing and Interpreting Descriptive Statistics
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1.Calculate the mean, median, range, and standard deviation of home price and size. You can cut and paste the answers from the Analysis Toolpack, or you can place your results in the same Excel sheet as the data, below the existing table. Be sure to label each of your data calculations. (For example: Row 84 Column B should contain the Mean of Home Selling Prices, Column C the Mean of Home Size in Square Feet, Row 85 Column B should contain the Home Median price, and so on. Highlight all your results in yellow.)
2.Calculate the mode for the number of bathrooms. (You can cut and paste the answers from the Analysis Toolpack, or you can use Row 88 Column D for this parameter. Do not forget to title Column A Row 88-Mode. Highlight your results in yellow.)
3.Produce a histogram that shows the number of houses by price range, in increments of $50,000 (for example, $0-$50,000, $50,001-$100,000, and so on). Use a separate Excel sheet to do this and label that sheet "Home Price Range Histogram."
4.Produce a scatter plot showing the relationship between price and home size. In a cell under your scatterplot, indicate whether the relationship is positive or negative and whether the results are what you expect. Use a separate Excel sheet to do this and label the sheet "Scatterplot."
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Solution Summary
A calculation of the mean, median, range, and standard deviation of Florida pool home prices using Excel is shown. Excel is also used to find the mode, and create a histogram and scatterplot. The explanation includes over 250 words of text and an Excel file with 4 spreadsheets with all formulas and charts used.
Solution Preview
Calculate the mean, median, range, and standard deviation of home price and size by following the instructions below. Please see the attached Excel spreadsheet and the formulas entered into the cells. The spreadsheets have been named as follows:
Sheet 1 is the original spreadsheet, with calculations for the mean, median, mode, and range, as required in question #1 and 2.
Frequency is the original spreadsheet, with ...
Education
- MSc, California State Polytechnic University, Pomona
- MBA, University of California, Riverside
- BSc, California State Polytechnic University, Pomona
- BSc, California State Polytechnic University, Pomona
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