Concept explainers
To explain:the
Answer to Problem 84E
$216,400 is the mean
$172,600 is the median.
Explanation of Solution
Given:
The selling prices of existing single-family homes sold in $216,400 and $172,600.
Most houses will have roughly the same selling prices, while some will have a selling price that is much higher.
Thus the distribution of selling prices will be right-skewed.
In a right-skewed distribution, we know that the mean is greater the median, because the mean is influenced by the very high salaries and the median is not:
Chapter 1 Solutions
The Practice of Statistics for AP - 4th Edition
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