Wednesday, August 17, 2011

Help with Statistics..!!!!!?

4. The problem with means is that they are susceptible to outliers. Outliers tug on the mean in small samples. In this case there's one house that appears to be an outlier, the most expensive one. In this case, the median would be the best choice because medians aren't affected by them nearly as much (in this case not at all). The mode isn't a good choice because it's just the value most often occurring (in this case the second cheapest house) and the range has little to do with central tendency.

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