1.56 Distributions and appropriate statistics (Part II): For each of the followi
ID: 3353994 • Letter: 1
Question
1.56 Distributions and appropriate statistics (Part II): For each of the following, state whether you expect the distribution to be symmetric, right skewed, or left skewed. Also specify whether the mean or median would best represent a typical observation in the data, and whether the variability of observations would be best represented using the standard deviation or IQR. Explain your reasoning.
(a) Housing prices in a country where 25% of the houses cost below $350,000, 50% of the houses cost below $450,000, 75% of the houses cost below $1,000,000 and there are a meaningful number of houses that cost more than $6,000,000.
The distribution is expected to be:
symmetric
left skewed
right skewed
A typical observation is best represented by the:
median
mean
The variability in the observations is best measured by the:
IQR
standard deviation
(b) Housing prices in a country where 25% of the houses cost below $300,000, 50% of the houses cost below $600,000, 75% of the houses cost below $900,000 and very few houses that cost more than $1,200,000.
The distribution is expected to be:
left skewed
symmetric
right skewed
A typical observation is best represented by the:
median
mean
The variability in the observations is best measured by the:
IQR
standard deviation
(c) Number of alcoholic drinks consumed by college students in a given week. Assume that most of these students don't drink since they are under 21 years old, and only a few drink excessively.
The distribution is expected to be:
right skewed
symmetric
left skewed
A typical observation is best represented by the:
mean
median
The variability in the observations is best measured by the:
standard deviation
IQR
(d) Annual salaries of the employees at a Fortune 500 company where only a few high level executives earn much higher salaries than the all other employees.
The distribution is expected to be:
symmetric
right skewed
left skewed
A typical observation is best represented by the:
mean
median
The variability in the observations is best measured by the:
standard deviation
IQR
Explanation / Answer
a)
left skewed
median
IQR
b)
symmetric
mean
standard deviation
c)right skewed
median
IQR
d)
right skewed
median
IQR
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