Question

You look at real estate ads for houses in Naples, Florida. There are many houses ranging from $200,000 to $500,000 in price. The few houses on the water, however, have prices up to $15 million. The distribution of house prices will be:_____. a. skewed to the left.b. roughly symmetric.c. skewed to the right.

Answer 1

d. skewed to the right with possible outliers

Explanation:

The distribution of house prices will be skewed to the right with possible outliers. This is because the regular median prices are still fairly far apart from each other with roughly $300,000 in difference between them. Also since there are some extreme house prices also included that greatly surpass the normal range these would be considered outliers in the data set.