Week_1_Homework

# Week_1_Homework - Chapter 3 and 69 65 U.S housing prices reached their peak in July of 2006 The following data shows the ratio of the prices

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Chapter 3 (questions 65, 66, and 69) 65. U.S. housing prices reached their peak in July of 2006. The following data shows the ratio of the prices reported in recent month to the July 2006 figure. These are to be used to represent typical amounts of decline from that peak for 20 cities. Phoenix L.A. San Diego San Francisco Denver Washington Miami Tampa Atlanta Chicago 0.760 0.78 4 0.764 0.802 0.909 0.828 0.786 0.792 0.933 0.915 Boston Detroit Minneapolis Charlotte Las Vegas New York Cleveland Portland Dallas Seattle 0.902 0.792 0.855 1.025 0.756 0.922 0.865 0.981 0.939 0.999 a. Find the mean, median, and mode of these statistics. b. What are the range and standard deviation of the values? (assume this to be sample information) c. Use the Empirical Rule to determine an interval which contains approximately 95 percent of the observations. 0.760, 0.784, 0.764, 0.802, 0.909, 0.828, 0.786, 0.792, 0.933, 0.915, 0.902, 0.792, 0.855, 1.025, 0.756, 0.922, 0.865, 0.981, 0.939, 0.999 a. Mean (average - add all together and divide by 20) = 0.86545 Median (sort large to small and choose middle two numbers, then average those two) = (0.855+0.865)/2 = 0.86 Mode (most frequent) = 0.792 b. Range (largest number minus smallest number) = 1.025 - 0.756 = 0.269

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## This note was uploaded on 10/07/2011 for the course EC 315 taught by Professor Barcus during the Spring '10 term at Park.

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Week_1_Homework - Chapter 3 and 69 65 U.S housing prices reached their peak in July of 2006 The following data shows the ratio of the prices

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