Download Discussion From the dataset that you described in your post for Unit

Discussion
From the dataset that you described in your post for Unit 2, select one of the quantitative variables from
that dataset and answer the questions below.
You may select another dataset if
(a) your data does not have any quantitative variables or
(b) you did not post or
(c) you want to.
Homes Sold
4/14/2012 5:21:42 PM
Edward Jackson
a. What is the name of your dataset and the quantitative variable you will be analyzing?
My dataset's name is "Homes sold in Dutchess County"
b. What does the selected variable measure about each observation?
Selling Price/List Price/Area/Acres/Age/Taxes/Rooms/Bedrooms/Baths (full)
c. Use StatCrunch (Stat/Summary Stats/Columns) to compute Summary statistics, including
I chose the selling price of the homes as my quantitative variable:
Summary statistics:
Column
n
Variance Std. Dev. Std. Err. Median Range
Selling Price 40 6.9283415E9
83236.66 13160.871
309000
Min
Max
Q1
Q3
Mean
310000 210000 520000 292000 392500 342672.5
d. Which measure of center do you think does the best job of describing your data? Explain your answer.
I believe the mean value of 342672.5 is the best because it combines all the values of homes in the area and divides
that by 40
(the total homes sold).
e. What does the standard deviation tell you about the variation in your data?
It tells me that there is a wide selection of many homes that have many different prices. This is pretty good to match
up a wide range of buyers, however, this could also mean
that some houses are built much better and are newer than others; potentially a problem if you're moving into a
neighborhood for image reasons. The standard deviation tells
me the deviation from the mean or average selling price of homes in this chart.
Bennett J., Briggs W., & Triola M. (2009). Statistical Reasoning for Everyday Life (3rd ed.). Boston, MA: Pearson.
--------------------------------------------------------Eddie Jackson
GOK - Philosophy Major/Liberal Studies
http://eddiejackson.net university page
In your response posts, you may correct errors and ask questions about your classmates’ posts.
In this week’s discussion, you will interact with your classmates on the course content. Remember that
your goal for discussion assignments is three-fold:

to get involved throughout the entire week

to contribute in a way that adds to the discussion and moves it forward in an original fashion

to use the course content to inform your posts and responses
Keep in mind that when you post, you may include references to the textbook and articles found online.
The class is all about sharing knowledge, so use discussions as a way of creating a community resource
for yourself and your classmates.
Be sure your post is grammatically correct, has been spell checked, and fully answers the question. Be
sure to comment on and respond to your classmates' postings throughout the week.
RE: DQ
4
Edward Jackson
4/14/2012 5:31:17 PM
You're right the standard deviation shows how much data differs from the mean, but in this chart specifically, it
shows that the deviated high variance wasn't all that great. What this means is that out of all the males' height
taken, they were all pretty close in overall height; 3 inches isn't all that much. Talk about a big difference, it would
be me at 5'7" and my friend at 6'4".
--------------------------------------------------------Eddie Jackson
GOK - Philosophy Major/Liberal Studies
http://eddiejackson.net university page
RE: Initial posting
Edward Jackson
4/15/2012 7:02:39 PM
I went back to StatCrunch and looked up the male health exam chart. That is definitely the variance in pounds. So
the average deviated value from the mean is 26.33 pounds, which if you think about is not all that wide of a
range. Consider the weight between my friend at 236 pounds, and me at 164 pounds. Now that is pretty big
difference. I do see there are some weights that are pretty low...and some that are high, but this just isn't the norm
as the mean is 172.55.
--------------------------------------------------------Eddie Jackson
GOK - Philosophy Major/Liberal Studies
http://eddiejackson.net university page
http://www.cartoonstock.com/lowres/vsh0178l.jpg