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Mathematics, 26.06.2020 19:01, aide1234564
For each of the following, state whether you expect the distribution to be symmetric, right skewed, or left skewed. Also specify whether the mean or median would best represent a typical observation in the data, and whether the variability of observations would be best represented using the standard deviation or IQR. Explain your reasoning.
Housing prices in a country where 25% of the houses cost below $350,000, 50% of the houses cost below $450,000, 75% of the houses cost below $1,000,000 and there are a meaningful number of houses that cost more than $6,000,000.
The distribution is expected to be:.
1. symmetric
2. left skewed
3. right skewed
A typical observation is best represented by the:.
1. median
2. mean
The variability in the observations is best measured by the:.
1. IQR
2. standard deviation
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Answers: 3
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For each of the following, state whether you expect the distribution to be symmetric, right skewed,...
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