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Calculate and interpret descriptive statistics

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Using the following data points (6, 6, 8, 12, 11, 9, 6, 7, 8, 10), create a situational context for the data (for example: the data points represents the number of miles I jogged during my last 10 workouts or the number of applicants that successfully passed the call center simulation to get a face-to-face interview, from Feb 1 until Feb 10). Calculate and post your interpretations of:

A. The Mean, Median, and Mode

B. The two Measures of Spread (Range, Standard Deviation)

C. How you judged the "representativeness" of the MEAN with respect to the original data and what was your "verdict?"

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Solution Preview

For part A:

Mean = 8.3 (the average value)
Median = 8 (the middle data point)
Mode = 6 (the most common data point)

B. Range = 6 (largest data point - smallest data point)
Std. Dev. = 2.16282 (square root of variance - the formula you can find in any Stats textbook)

C. The mean ...

Solution Summary

A simple data set is provided. The correct mean, median, mode, range, and standard deviation are provided. The calculation of these descriptive statistics is not presented. Focus of the solution is on the interpretation of the statistics.

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Producing and Interpreting Descriptive Statistics

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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