Using the Information Gathered for Real Estate Prices in Regina

question 205

Multiple Choice

Using the information gathered for real estate prices in Regina and surrounding areas in the early
2000's, determine the standard deviation of the selling prices at that time.

• A) $88,330
• B) $20,000
• C) $25,000
• D) $78,350
• E) $88,939

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Definitions:

Probability

A mathematical measure of the likelihood that an event will occur, often expressed as a number between 0 and 1.

Dependent Variable

A variable in an experiment or study that is dependent on other variables, typically the outcome or effect being measured.

Indicator Variable

A binary variable that takes the value of 1 if a certain condition is true and 0 if it is false, used in statistical analysis.

Interval Variable

An interval variable is a type of numerical data that is measured along a scale, where the distance between each point is uniform and meaningful, but does not have a true zero point.