# qnt 351

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Resources: Appendix A1 at the end of Basic Statistics for Business and Economics

Answer question 68 in the Data Set Exercises from Ch. 3 of Basic Statistics for Business and Economics.

Answer question 34 in the Data Set Exercises from Ch. 4 of Basic Statistics for Business and Economics.

68. Refer to the Real Estate data, which reports information on homes sold in the Phoenix,

Arizona, area last year.

a. Select the variable selling price.

1. Find the mean, median, and the standard deviation.

2. Write a brief summary of the distribution of selling prices.

b. Select the variable referring to the area of the home in square feet.

1. Find the mean, median, and the standard deviation.

2. Write a brief summary of the distribution of the area of homes.

Refer to the Real Estate data, which report information on homes sold in the Phoenix,

Arizona, area last year. Select the variable selling price.

a. Develop a box plot. Estimate the first and the third quartiles. Are there any outliers?

b. Develop a scatter diagram with price on the vertical axis and the size of the home on

the horizontal. Does there seem to be a relationship between these variables? Is the

relationship direct or inverse?

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