Reference no: EM132847768
Please be sure to show more than just final answers as per the syllabus (I especially want to see procedure used for #3!!)
(1) These are the sales prices of recent home sales at a real estate office: $475,000 $310,000 $350,000 $400,000 $475,000 $1,000,000 $340,000
Find the and the mode for the prices. In your opinion, which is the best measure of central tendency for this data set? Why?
(2) Identify the population, parameter, sample, and statistic in the statistical study quoted below. What type of data was gathered in the study?
The United Hospital Fund recently examined the cases of 1,254 randomly chosen patients of New York city hospitals. The researchers determined that in 25.8% of the cases, hospitalization could have been avoided with timely outpatient care. The percentage varied from a high of an estimated 59.5% of cases in East Harlem to a low of 12.4% of cases in an Upper East Side hospital.
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Best measure of central tendency for data set
: These are the sales prices of recent home sales at a real estate office: $475,000 $310,000 $350,000 $400,000 $475,000 $1,000,000 $340,000
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What is approximate prediction interval for quarter 3 sales
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