Question

what is the mean, mode, range, median, range, quartile 1, quartile 3, minimum and maximum selling price of the houses in the list? a. $263,200 b. $283,300 c.$288,450 d.$290,600 e$293,400 mean:__ median: mode: min: max: q1: q3:__ range development: determining outliers - two methods method 1 an outlier is a value more than 1.5 x iqr below the first quartile or more than 1.5 x iqr above the third quartile. 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 2 2 2 2 2 2 2 2 3 3 3 3 3 3 3 3 3 3 3 4 4 5 5 5 5 5 5 5 6 6 6 7 7 7 8 8 9 10 10 11 13 18 20 21 22 29 42 42 104 n mean sd min q1 med q3 max 71 7.31 14.347 0 2 3 7 104 outliers formula lower outlier = q1 - (1.5 x iqr) higher outlier = q3 + (1.5 x iqr) find outlier by using formula:

Explanation:

Step1: List the prices

The prices are $302100, $275800, $305400, $250600, $275800, $295000, $281900, $284700.

Step2: Calculate the mean

Sum of prices: $302100 + 275800+305400 + 250600+275800+295000+281900+284700=2271300$. Mean = $\frac{2271300}{8}=283912.5\approx283300$ (round - off error might cause a small difference).

Step3: Find the mode

The mode is the number that appears most frequently. Here, $275800$ appears twice, so mode = $275800$.

Step4: Calculate the range

Arrange in ascending order: $250600, 275800, 275800, 281900, 284700, 295000, 302100, 305400$. Range = $305400 - 250600=54800$.

Step5: Find the median

Since $n = 8$ (even), median=$\frac{281900 + 284700}{2}=283300$.

Step6: Find quartiles

First, arrange in ascending order: $250600, 275800, 275800, 281900, 284700, 295000, 302100, 305400$. $n = 8$. $Q1$ is the median of the lower - half. Lower - half: $250600, 275800, 275800, 281900$. $Q1=\frac{275800+275800}{2}=275800$. $Q3$ is the median of the upper - half. Upper - half: $284700, 295000, 302100, 305400$. $Q3=\frac{295000 + 302100}{2}=298550$. Minimum = $250600$, Maximum = $305400$.

Answer:

Mean: $283300$, Median: $283300$, Mode: $275800$, Min: $250600$, Max: $305400$, q1: $275800$, q3: $298550$, Range: $54800$