A Random Sample of Sale Prices of Homes Yielded the Following

question 103

Multiple Choice

A random sample of sale prices of homes yielded the following summary information: $$\begin{array} { l l l } \text { MIN } \$ 41,000 & 25 \% : \$ 82,000 & \text { Median: } \$ 124,000 \\\text { MAX } \$ 276,000 & 75 \% : \$ 169,000 &\end{array}$$ Comment on a home that had a sale price of $429,000.

• A) This value falls outside the upper fence and is considered an outlier.
• B) This sale price would be expected since it falls inside the lower and upper fences.
• C) This sale price falls between the lower and upper fences. It can be considered a potential outlier.
• D) This value falls outside of the third quartile, but cannot be considered an outlier.

Formulate null and alternative hypotheses for testing population variance.

Calculate and interpret confidence intervals for population variance and standard deviation.

Understand and apply the chi-square test statistic in hypothesis testing related to variance.

Recognize the proper use of one-tailed and two-tailed tests in the context of population variance.

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Definitions:

Mercalli Scale

A scale that measures the intensity of an earthquake based on its observed effects on people, objects, and structures, rather than its energy.

Urban Fires

Fires that occur in cities or towns, which can involve buildings, vehicles, and other man-made structures.

Horizontal Displacement

The distance an object or particle moves horizontally over a period of time, often measured in physics and engineering contexts.

Release of Ejecta

Refers to the process where material is expelled or thrown out, often used in the context of volcanic eruptions or meteorite impacts.