BA Module 1 & 2

BA Module 1 & 2 The following data set lists the prices for thirty houses in and around Boston, Massachusetts. Create a histogram of the data using the bins provided in column D. - ANS The Input Range is B1:B31 (selling price $) and the Bin Range is D1:D8. (selling price) You must check the Labels in the first row box since we included B1 and D1 to ensure that the histogram's axes are appropriately labeled. right tailed - ANS (basically more frequency on the left) This graph has a tail that extends out the right side. As selling price increases, the frequency of each bin is much less than those below . Therefore, we infer that this distribution is skewed to the right, or right-tailed. Mean - ANS average: The mean is equal to the sum of all of the data points in a set, divided by nn, the number of data points. Mode - ANS The value that occurs most frequently in a data set. Median - ANS The middle value of a data set. The same number of data points fall above and below the median. To find the median, first arrange the values in order of magnitude. If the total number of data points is odd, the median is the value that lies in the middle. If the total number is even, the median is the average of the two middle values. distribution is symmetric - ANS Because the distribution is symmetric and has only one peak, the mean, median, and mode are equal. What percentile does the median represent? - ANS 50% Remember that half of a distribution's data points are less than or equal to the median. Therefore, the median is equal to the 50th percentile, because 50% of the data points are equal to or below this value. Range - ANS 10 The range is the difference between the maximum value and the minimum value. We can see from the histogram that the maximum value in this data set is 10 and the minimum value is 0, so the range equals 10-0=10. standard deviation - ANS measure of the amount of variation or dispersion of a set of values. A low standard deviation indicates that the values tend to be close to the mean of the set, while a high standard deviation indicates that the values are spread out over a wider range. If the variance of a data set is 9, what is the standard deviation? - ANS 3 The standard deviation is equal to the square root of the variance. If the variance is 9, then the standard deviation must be 3. If two data sets, A and B, have equal standard deviations, which of the following statements is true? Select all that apply. - ANS The variance of A must equal the variance of B