Math Problem Solver

"MATH201 Far from Average Assignment Template

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Far from Average!

You've decided to take the leap and buy a home! Go to Zillow.com or Realtor.com and enter your City and State. Choose a minimum home price. Enter a maximum home price that is no more than $100,000 over your minimum home price. Search for fifteen 'For Sale' homes in your area. List the home prices in the blue cells below. Home Price 1 $279,000.00

2 $290,000.00 3 $229,900.00

4 $260,000.00 5 $256,500.00

6 $279,800.00 7 $235,000.00

8 $212,500.00 9 $279,900.00

10 $265,000.00 11 $253,000.00

12 $269,900.00 13 $255,000.00

14 $295,000.00 15 $300,000.00

Calculate the values below by hand.

Show your work below: Answer:

Mean for your data 279,000+290,000+229,900+260,000+256,500+279,800+235,000+212,500+279,900+265,000+253,000+269,900+255,000+295,000 249,300.00

Median for your data " 212,500 2299,900 235,000 253,000 255,000 300,000

256,500 260,000 265,000 269,900 279,000

279,800 279,900

" 265,000.00

Mode for your data no mode

Range for your data 300,000-212,500 87,500.00

Click on the video link for additional help: https://youtu.be/Da_RzJvdTmc

Mean for your data

Median for your data

Mode for your data

Range for your data

Now suppose you inherit a $1,000,000 home from a long lost relative. Using this additional home, recalculate the mean, median, mode and range using Microsoft Excel formulas below. Mean for your data Median for your data Mode for your data Range for your data Review the sixteen home prices and determine if there are any unusual data values (like outliers). If there are, in at least 200 words, explain how they impact the mean, median, mode and range you calculated. "" In at least 150 words, explain which statistic (mean, median, or mode) do you think is the best measure of center for the price of a house? Justify your answer. "" In at least 150 words, describe the value of understanding mean, median and mode when making other large purchases such as land, cars, etc. Explain how this information will make you a better negotiator. ""