209k views
2 votes
Which set of statistics best describes a typical home value in Maya's neighborhood and how the values vary?

Which set of statistics best describes a typical home value in Maya's neighborhood-example-1

2 Answers

3 votes
The answer is the median and the interquartile range. When you have data that is skewed ( more data points on one side or another, than the median is a good measure as well as the range of the middle half of the data (interquartile range -IQR).
User Gyorgyabraham
by
8.8k points
1 vote

Answer:

The typical home value is best described by the median.

The value variation is best described by IQR.

Explanation:

For samples of data that have outliers, the set of statics that best describes central tendencies are the robust measures.

The median is a robust measure because the outliers will have very little impact on the result of the measure.

The IQR is a robust measure because it takes the difference between the 75th percentile and the 25th percentile of a sample, so the outliers are ignored.

User Keozon
by
8.1k points

Related questions

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories