Solution: According to the U.S. Census Bureau, in November 2008 the median sales price of new houses was $220,400, and the mean sales price was $287,500


Question: According to the U.S. Census Bureau, in November 2008 the median sales price of new houses was $220,400, and the mean sales price was $287,500 (extracted from www.census.gov, January 21,2009 ).

  1. Interpret the median sales price.
  2. Interpret the mean sales price.
  3. Discuss the shape of the distribution of the price of new houses.

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Solution: The downloadable solution consists of 1 pages
Deliverable: Word Document

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