The sales record of a real estate company for the month of May shows the following house prices (rounded to the nearest $1,000).
1 answer:
Answer:
see below
Step-by-step explanation:
a)
minimum = 45
first quartile = 55
median = 75
third quartile = 85
maximum = 95
lower fence = Q1 - 1.5 x IQR = 10
upper fence = Q3 + 1.5 x IQR = 130
Therefore, one outlier = 140
b) mean = sum of all numbers ÷ n = 760 ÷ 10 = 76 ($76,000)
There is an outlier (140). Outliers don't affect the median as much as they affect the mean.
c) see attached
d) negative skew
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<h2>Answer with explanation:</h2>
In statistics, The Type II error occurs when the null hypothesis is false, but fails to be rejected.
Given : Suppose the null hypothesis, , is: Darrell has enough money in his bank account to purchase a new television.
Then , Type II error in this scenario will be when the null hypothesis is false, but fails to be rejected.
i.e. Darrell has not enough money in his bank account to purchase a new television but fails to be rejected.