Access over 20 million homework & study documents

Statistics 540 172

Content type
User Generated
Rating
Showing Page:
1/1
Discussion post
For my submission, I would like to study the average house rental price in the community I live
in. To do this I would have to collect rental payments receipts from tenants to get the mean or
average rent price. Given the size of my community, It should be enough to collect this
information from the population. I would consider the rental price collected as quantitative
data because the price is a number and quantitative data is normally presented as numbers.
My solution to dealing with outliers in a sample of 100 would be to simply remove them from
the population since they affect the mean value by causing it to gravitate towards it. That said I
would first need to prove that the value in question is an outlier. to do this I would have to
calculate the interquartile range(IQR) to confirm if the price is an error or not.
In a case where I find the price of the next two prices is double the price of the next price, I
would measure the population standard deviations and/or use a statistical graph such as a box
and mustache. Standard deviations can indicate how well the data is distributed and a whisker
plot can give a graphical representation of the concentration of the data (Yakir, B. 2011)
Reference
Yakir, B. (2011). Introduction to statistical thinking (with R, without calculus).

Sign up to view the full document!

lock_open Sign Up
Unformatted Attachment Preview
Discussion post For my submission, I would like to study the average house rental price in the community I live in. To do this I would have to collect rental payments receipts from tenants to get the mean or average rent price. Given the size of my community, It should be enough to collect this inf ...
Purchase document to see full attachment
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Anonymous
I was stuck on this subject and a friend recommended Studypool. I'm so glad I checked it out!

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4