A luxury apartment complex in South Beach Miami is for sale. The owner has received the following offers in millions of dollars. 
(See the Excel Data File.)
A) What is the mean offer price? What is the median offer price? Is the mean a good measure of central location?
B) What is the sample standard deviation of the offers?
C) What is equivalent to a 75th percentile offer?
Definitions:
Federal Trade Commission Act
A U.S. federal law established in 1914 to prevent unfair competition, deceptive acts, or practices in the marketplace.
U.S. Steel
A major American integrated steel producer with major production operations in the United States and Central Europe.
Inferior Foreign Steel
Steel produced outside of the home country, often criticized for its lower quality compared to domestic products.
Bait-and-Switch Advertising
A deceptive marketing strategy where a business advertises an attractive offer that is not genuinely available to induce customers to buy a more expensive item.
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