Answer to Question #102485 in Statistics and Probability for Hasana Rochelle

Question

Data were collected on the prices of house sold in the last year in a suburban area.Here is the frequency distribution of house prices
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Frequency | •
| • •
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|• • • • • •
|___|_________|_____
10,000 500,000
house price ($)
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a. Which conclusions can you draw about the prices of houses in this area? Explain.
b. Suppose you are a real estate agent trying to entice people to buy in this area.Which measure of central tendency would you use? Explain.
c.Suppose you are a real estate agent trying to encourage people to sell their homes. Which measure of central tendency would you use? Explain.

Answer 1

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