sol.hw3 - Solution for Homework 3 Yicheng Kang October 5...

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Yicheng Kang October 5, 2010 2.48 a) Upon examination of the data, the countries in Africa will have a larger standard deviation since the spread of the data is greater for this group than for the countries in Western Europe. b)Western Europe: ¯ x = 77 + 77 + · · · + 80 15 = 78 . 6667 s = r (77 - 78 . 6667) 2 + (77 - 78 . 6667) 2 + · · · + (80 - 78 . 6667) 2 15 - 1 = 1 . 047 . Africa: ¯ x = 37 + 37 + · · · + 57 16 = 46 . 625 s = r (37 - 46 . 625) 2 + (37 - 46 . 625) 2 + · · · + (57 - 46 . 625) 2 16 - 1 = 7 . 136 . Note that the standard deviation for the Western Europe group, 1.0(rounded), is much smaller than for the Africa group, 7.1. 2.50 The most plausible value is $60,000. -$15,000 is not possible because a standard deviation cannot be negative. $ 1,000 and $ 1,000,000 are unlikely because they are too small or too big, repectively, for a typical deviation. One would not expect the typical deviation to be that far from the median for home prices. 1
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sol.hw3 - Solution for Homework 3 Yicheng Kang October 5...

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