What statistic use to describe each aspect of typical home

Assignment Help Basic Statistics

Reference no: EM13117374

Suppose you were a real estate agent and you were asked by a client about the "typical" home in a subdivision. Being the astute agent you are, you have gathered the following information on each house in the subdivision: price, square footage, # bedrooms, # bathrooms, age.

What statistic (mean, median or mode) would you use to describe each aspect of the "typical" home? For example, you might use the MEAN for price, the MEDIAN for square footage, the MODE for ..., or you might use the same statistic for all five. Whatever you decide, justify your answer. Just try to imagine the type of answers you would be giving your client based on your selections for a subdivision that has 100 homes with a wide variety of sizes and prices.

How does this apply or could apply to your workplace or home?
How does this apply or could apply to your daily use, business use, or personal use?

Reference no: EM13117374

Questions Cloud

How much heat is required to raise the temperature : how much heat is required to raise the temperature of 50.0 g of C6H6 at 6.00ºC to 93.0ºC

Explain what is the break-even point in bags : What is the break-even point in bags? What is the degree of operating leverage at 20,000 bags and at 25,000 bags? Why does the degree of operating leverage change as the quantity sold increases?

Computing distance of object : An object is close to a light source - say at a distance of x meters. Another object B is at a distance of 2.3 times x meters from the same light source or in equation from distance to B from the light source = 2.3 (x meters).

What volume of a koh solution is needed : What volume of a 0.50 M KOH solution is needed to neutralize completely 10.00 mL of a 0.30 M H2SO4 solution? The neutralization reaction is 2KOH + H2SO4 → K2SO4 + 2H2O.

What statistic use to describe each aspect of typical home : What statistic (mean, median or mode) would you use to describe each aspect of the "typical" home? For example, you might use the MEAN for price, the MEDIAN for square footage.

Numerical methods-stability function : Find the stability function for Runge's 4th order 4 stage method. Plot the exact and estimated errors at the terminating point (t=1) vs. the step-length h on a log-log scale

Calculate the molar solubility of feco3 : Calculate the molar solubility of FeCO3 . How many grams of FeCO3 are present in 15.0 L of a saturated solution.

Illustrate what must be the coefficient of static friction : You have a mass of 87 kg and are on a 50-degree slope hanging on to a cord with a breaking strength of 221 newtons. Illustrate what must be the coefficient of static friction to 2 decimal places between you and the surface for you to be saved fro..

Describe the policy''s implication for healthcare. : identify one health care policy that interests you. Discuss the policy's implication for healthcare.

User Account

All Pages