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Calculating Variability and Percent

The box plots below show the real estate values of single values of single family homes in two neighboring cities, in thousands of dollars.

Real estate values in neighboring communities
Community

Tiny town 60 85 110

Big Burg 45 85 110

20 40 60 80 100 120 140
45 85 110
Real estate values (thousands of dollars)

Give your answer as one of the following (a) TinyTown; (b) BigBurg; (c) Both cities have the same value requested; (d) It is impossible to tell using only the given information.

1. Which city has greater variability in real estate values?
2. Which city has the greater percentage of households with values $85,000 and over?
3. Which city has a greater percentage of homes with real estate values between $55,000 and $85,000?

Solution Preview

1. Which city has greater variability in real estate values?

Answer: (b) BigBurg. Because the range of BigBurg is 110-45=65 which is larger than TinyTown whose range is 110-60=50

2. Which city has the greater ...

Solution Summary

The expert calculates variability and percent for real estate values in neighboring communities.

$2.19