Math Solutions

(Solution Library) Consider the following data consisting 10 families’ monthly housing expenditures, E (measured in dollars). Family 1 2 3 4 5 6 7 8 9 10 E 300

Question: Consider the following data consisting 10 families’ monthly housing expenditures, E (measured in dollars).

Family 1 2 3 4 5 6 7 8 9 10
E 300 440 350 1100 640 480 450 700 670 530
  1. Find the average monthly housing expenditure and the standard deviation of the monthly housing expenditure from the given data.
  2. Find the median monthly housing expenditure.
  3. If monthly housing expenditures were measured in hundreds of dollars rather than in dollars, what would be the average, median, and standard deviation of the monthly housing expenditures?

d. Suppose that family number 4 decreases its monthly housing expenditure to $900 dollars, but the expenditures of all other families remain the same. Compute the average, standard deviation and median monthly housing expenditures.

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