House Prices
The graphs show the house prices (in hundreds of thousands of dollars) in two fictitious towns.
a. If you were describing the prices in Town A in terms of shape, center, and spread, without comparing them to the prices in Town B, would you use the mean and standard deviation or the median and interquartile range? Why?
b. If you were describing the prices in Town B in terms of shape, center, and spread, without comparing them to the prices in Town A, would you use the mean and standard deviation or the median and interquartile range? Why?
c. If you were comparing the two groups, what measures would you use, and why?
d. In which of the two graphs are the mean and median closer together, and why?
e. In which of the two graphs are the mean and median farther apart, and which would be larger?
