Calculating house prices with sample statistics
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I want the answers for:
1-The mean price of new homes from a sample of houses is $155,000 with a standard deviation of $15,000. The data set has a bell-shaped distribution. Between what two prices do 95% of the houses fall?
Refer to the sample statistics of Exercise 5 and use z-scores to determine which, if any, of the following house prices is unusual.
$200,000
$55,000
$175,000
$122,000
2-The number of wins for each Major League Baseball team in 2000 are listed. (Source: Major League Baseball)
87
85
83
74
69
95
90
79
77
69
91
91
82
71
95
94
79
67
65
95
85
73
72
69
65
97
86
85
82
76
Find the quartiles of the data set.
Find the interquartile range.
Construct a box-and-whisker plot.
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Solution Summary
This solution is comprised of a detailed explanation of descriptive statistics. This solution mainly discussed the question in which we need to calculate the mean, standard deviation and z scores. The calculation with formula is provided in the solution.
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