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In order to compare the real estate markets in Pittsburgh and Philadelphia, a realtor selected
a random sample of 150 homes in the Pittsburgh area and 100 homes in the Philadelphia
area. Shown below are dotplots showing the distribution of home price for the homes in
these two cities
Bebe all 1 Blk aleboski.balke.. . Pittsburgh
100 200 300 400 500 600 700 800 900 1000
Philadelphia
1000
100
200
300
800
900
400 500 600 700
Home Price (in thousands)
The mean home price for both cities is approximately $500,000. The standard deviation of
home price for one city is $100,740 and the other is $267,210. Which of the following gives
the correct value and interpretation of the standard deviation of the home prices for homes
in the Pittsburgh area?

Respuesta :

Answer:

The price of the homes in the Pittsburgh sample typically vary by about $267,210 from the mean home price of $500,000.

Step-by-step explanation:

The dotplots reveal that the variability of home prices in the Pittsburgh sample is greater than the variability of home prices in the Philadelphia sample. Therefore, the standard deviation of the home prices for the Pittsburgh sample is $267,210 rather than $100,740. The correct interpretation of this statistic is that the price of homes in Pittsburgh typically vary by about $267,210 from the mean home price of $500,000.

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