The Following Printout Is a Summary of Housing Prices in Edmonton

question 141

Multiple Choice

The following printout is a summary of housing prices in Edmonton: What can we determine from this printout?

• A) The mean list price is less than both the median and modal prices
• B) The median list price is the most representative as it is larger than the modal price and smaller than the mean price.
• C) The modal price is affected by a few houses that must be priced very high
• D) More than half of the houses are listed above $425,000.

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Definitions:

Lurking Variable

A variable that is not explicitly included in a model but influences both the independent and dependent variables, potentially confounding the results.

Driving Skill

The ability to operate a vehicle safely and efficiently, often assessed through tests or observations.

Text Messages

Text messages are short written messages sent or received on a mobile phone or similar electronic device, using a text messaging service or app.

Randomize

The process of making something random, especially to randomly assign subjects to different groups in an experiment to reduce bias.