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Which measure of central tendency would be most appropriate

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Question 1. The definition of probability is stated as: A measure of the likelihood that an event in the future will happen; it can only assume a value between 0 and 1, inclusive. Explain the meaning of the 0 and 1.

Question 2. You are looking for a home in a particular neighborhood, and you want to know the typical number of bathrooms and bedrooms, the square footage, and the appraised value of houses in that neighborhood. Which measure of central tendency (mean, median, or mode) would be the most appropriate for each piece of information listed, and why?

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The paper is in relation to the analysis of the central tendency specifically mean, median and mode for the purpose of decision making. These three are analysed with respect to a buyer making property investment decisions.

Reference no: EM132431075

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