Use the Data Shown Below to Answer the Following Question(s)

question 27

Essay

Use the data shown below to answer the following question(s).
The table below is the data set of the Shiller Real Home Price Index for the years 1946-1956.
$\begin{array}{c|c}\text { Year } & \begin{array}{c}\text { Real Home Price } \\\text { Index }\end{array} \\\hline 1946 & 106.5058955 \\\hline 1947 & 109.3296707 \\\hline 1948 & 101.2225795 \\\hline 1949 & 100.0466076 \\\hline 1950 & 105.8948393 \\\hline 1951 & 103.8986687 \\\hline 1952 & 103.9743275 \\\hline 1953 & 114.7133093 \\\hline 1954 & 114.199126 \\\hline 1955 & 115.4621261 \\\hline 1956 & 115.3166155\end{array}$
-Setting k = 3, determine the value of mean absolute deviation.

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Definitions:

Relevant Information

Data or facts that are directly related and significant to the matter at hand.

Encouraging Participation

The act of motivating or urging individuals to take part or become actively involved in a process or activity.

Proposed Change

A suggestion or plan put forward to modify, alter, or transform an existing situation, system, or process.

Tentative

Describes propositions or conclusions that are provisional and subject to potential changes or finalization.