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Descriptive Statistics

1. US housing prices reached their peak in July of 2006. The following data shows the ratio of the prices reported in a recent month to the July 2006 figure. These are to be used to represent typical amounts of decline from that peak for 20 cities.

Phoenix Los Angeles San Diego Denver Washington Miami Tampa Atlanta
0.760 0.784 0.764 0.909 0.828 0.786 0.792 0.933

Chicago Boston Detroit Minneapolis Charlotte Las Vegas New York Cleveland
0.915 0.902 0.792 0.855 1.025 0.756 0.922 0.865

Portland Dallas Seattle
0.981 0.939 0.999

a. Find the mean, median, and mode of these statistics.
b. What are the range and standard deviation? (Sample information)
c. Use the Emperical Rule to determine an interval which contains approx. 95% of the observations?

2. The Kentucky Derby is held the first Saturday in May at Churchhill Downs in Louisville, KY. The racing track is one and one-quarter miles. The following table shows the winners since 1990, their margin of victory, the winning time, and the payoff on a $2 bet.

Year Winner Margin (lengths) Time (minutes) Payoff for the $2 bet
____ ______ _____________ ___________ _________________

1990 Unbridled 3.75 2.03333 10.80
91 Srike the Gold 1.75 2.05000 4.80
92 Lil E. Tee 1 2.05000 16.80
93 Sea Hero 2.5 2.04000 12.90
94 Go for Gin 2 2.06000 9.10
95 Thunder Gulch 2.25 2.02000 24.50
96 Grindstone Nose 2.01667 5.90
97 Silver Charm Head 2.04000 4.00
98 Real Quiet 0.5 2.03667 8.40
99 Charismatic Neck 2.05333 31.30
2000 Fusaichi Pegasus 1.5 2.02000 2.30
01 Monarchos 4.75 1.99667 10.50
02 War Emblem 4 2.01667 20.50
03 Funny Cide 1.75 2.01667 12.80
04 Smart Jones 2.75 2.06667 4.10
05 Giacomo 0.5 2.04583 50.30
06 Barbaro 6.5 2.03933 6.10
07 Street Sense 2.25 2.03617 4.90
08 Big Brown 4.75 2.03033 6.80
09 Mine that Bird 6.75 2.04433 103.20

a. Obtain the mean and medium for the variables winning time and payoff on a $2 bet.
b. Determine the range and standard deviation of the variables time and payoff.
c. Refer to the variable winning margin. What is the level of measurement? What measure of location would be most appropriate?

3. Refer to the baseball 2008 data, which reports information on the 30 major league teams for the 2008 baseball season.

http://highered.mcgraw-hill.com/sites/0073401781/student_view0/index.html

Go to: Datasets. Unzip the file and look for the Baseball file.

a. Select the variable team salary and find the mean, median, and the standard deviation.
b. Select the variable that refers to the age the stadium was built. (Hint: Subtract the year in which the stadium was built from the current year to find the stadium age and work with that variable). Find mean, median, and the standard deviation.
c. Select the variable that refers to the seating capacity of the stadium. Find the mean, median, and the standard deviation.

Solution Summary

This solution is comprised of detailed explanation and calculation of the given problems and provides students with a clear perspective of the underlying concepts.

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