Question

someone please help :( a sample of the amount of rent paid for one-bedroom apartments of similar size near the University of Oregon are: $295, $475, $345, $595, $538, $460. A second sample of the amount of rent paid for one-bedroom apartments of similar size near the University of Washington are: $495, $422, $370, $333, $370, $390. answer the following questions: What is the median price of rent for the University of Oregon? What is the median price of rent for the University of Washington? What is the mean price of rent near the University of Oregon? What is the mean price of rent near the University of Washington? Describe the standard deviation for both Universities.

Answer 1

Answer:

Oregon:

Median: 467.5

Mean: 451.33

Standard Deviation: 113.6

Washington:

median: 380

Mean: 396.6

Standard deviation: 56.3

Step-by-step explanation:

To calculate the median, we need to organize the price and select the value that is in the middle position.

To calculate the mean, we need to sum all the values and divide them by the number of values

To calculate the standard deviation, we need to square the distances between every price and the mean, sum it all and divide them by the number of values less 1 and finally calculate the square root.

So, for Oregon, the organized values are:

$295, $345, $460, $475, $538, $595

The median is a value between $460 and $475. it is calculated as:

$\frac{460+475}{2}=467.5$

The mean is:

$\frac{295+475+345+595+538+460}{6}=451.33$

The standard deviation is:

$\sqrt{\frac{(295-451.3)^2+(475-451.3)^2+(345-451.3)^2+(595-451.3)^2+(538-451.3)^2+(460-451.3)^2}{6-1}}=113.6$

At the same way, we can calculate the median, mean, and standard deviation for Washington and get:

median: 380

Mean: 396.6

Standard deviation: 56.3