Question

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

Answer 1

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).

Answer 2

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.