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Section I: Multiple Choice Choose the best answer for Questions AP1.1 to AP1.14. You
Chapter 4, Problem AP1.1(choose chapter or problem)
Section I: Multiple Choice Choose the best answer for Questions AP1.1 to AP1.14. You look at real estate ads for houses in Sarasota, Florida. Many houses range from $200,000 to $400,000 in price. The few houses on the water, however, have prices up to $15 million. Which of the following statements best describes the distribution of home prices in Sarasota? (a) The distribution is most likely skewed to the left, and the mean is greater than the median. (b) The distribution is most likely skewed to the left, and the mean is less than the median. (c) The distribution is roughly symmetric with a few high outliers, and the mean is approximately equal to the median. (d) The distribution is most likely skewed to the right, and the mean is greater than the median. (e) The distribution is most likely skewed to the right, and the mean is less than the median.
Questions & Answers
QUESTION:
Section I: Multiple Choice Choose the best answer for Questions AP1.1 to AP1.14. You look at real estate ads for houses in Sarasota, Florida. Many houses range from $200,000 to $400,000 in price. The few houses on the water, however, have prices up to $15 million. Which of the following statements best describes the distribution of home prices in Sarasota? (a) The distribution is most likely skewed to the left, and the mean is greater than the median. (b) The distribution is most likely skewed to the left, and the mean is less than the median. (c) The distribution is roughly symmetric with a few high outliers, and the mean is approximately equal to the median. (d) The distribution is most likely skewed to the right, and the mean is greater than the median. (e) The distribution is most likely skewed to the right, and the mean is less than the median.
ANSWER:Step 1 of 2
The few extreme house prices are on the right of the distribution, so it is right skewed. Since the mean is more affected by extreme values, it is greater than the median (further to the right).