Question

The dollar price of a house in a certain neighborhood is in the 60th percentile. which...

The dollar price of a house in a certain neighborhood is in the 60th percentile. which of the following can be concluded with certainty?

a) The price of this house is above the neighborhood’s median price.

b)The price of this house is above the neighborhood’s average price.

c) The price of this house is above the neighborhood’s mode price.

d) None of the choices can be concluded with certainty.

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

The price of the house is 60th percentile that is 60% of the house prices are less than this house's price.

Median is the 50th percentile. That is 50% of the house prices are less than this house's price.

This means that the price of the house under consideration is more than the median price.

Then relation between the current house price and the average price and mode price cannot be established with certainty with only the available data.

Hence answer is :

a) The price of this house is above the neighborhood’s median price.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The prices of some houses in a neighborhood are shown below: House Price A $120,000 B...
The prices of some houses in a neighborhood are shown below: House Price A $120,000 B $130,000 C $140,000 D $150,000 E $1,110,000 Based on the data, should the mean or the median be used to make an inference about the price of the houses in the neighborhood? A. Median, because there is an outlier that affects the mean B. Mean, because there are no outliers that affect the mean C.Median, because it is in the center of the data...
1. Which of the following does not belong? A. mesokurtic B. skewness C. leptokurtic D. symmetry...
1. Which of the following does not belong? A. mesokurtic B. skewness C. leptokurtic D. symmetry 2. Which of the following is always the 50th percentile? A. mode B. median C. weighted mean D. mean 3. Which of the following does not belong? A. mean B. median C. mode D. kurtosis 4. Which of the following represents the most frequently occurring score? A. mode B. weighted mean C. mean D. median 5. Which of the following does not belong? A....
A. The number that divides a distribution in half (the middle most number) is referred to...
A. The number that divides a distribution in half (the middle most number) is referred to as the: Group of answer choices mode median mean standard deviation B. The arithmetic average of a distribution, determined by adding up all of the scores then dividing by the total number of scores, is referred to as the: Group of answer choices standard deviation mode mean median C. What type of sampling is being employed if an elementary school teacher has the students...
If the price of a product is above equilibrium, which of the following statements is true?...
If the price of a product is above equilibrium, which of the following statements is true? a The quantity supplied will exceed the quantity demanded. b The quantity demanded will exceed the quantity supplied. c A shortage of the product exists. d None of the choices are correct.
28)Another name for a non-binding price floor set by a government in a market is a:...
28)Another name for a non-binding price floor set by a government in a market is a: (a)Binding maximum price (b)Binding price floor (c)Non-binding maximum price (24)Which of the following statements is true? Non-binding price ceilings: (a)Are also minimum prices under the law (b)Are set by governments below equilibrium price to encourage production (c)Are prices that facilitate market equilibrium in markets (d)None of the above (d)None of the above (34)Which of the following statements is false? If the interest rate in...
a) Which of the following is least affected if an extreme high outlier is added to...
a) Which of the following is least affected if an extreme high outlier is added to your data? A. The median. B. The mean. C. The standard deviation. D. None of the above. (b) If a distribution is skewed to the right, A. the mean is less than the median. B. the mean and median are equal. C. the mean is greater than the median. D. None of the above. (c) What percent of the observations in a distribution lie...
1. Which of the following statements is correct? a. The median can be strongly influenced by...
1. Which of the following statements is correct? a. The median can be strongly influenced by just one or two very low or high values. b. The mode gives equal consideration to even very extreme values in the data. c. There will be just one value for the mean, median , and mode in the data set. d. The mean is able to make the most complete use of the data when compared to the median and mode. e. None...
In a neighborhood, the mean home price is $285K and the standard deviation is $15K. a.)...
In a neighborhood, the mean home price is $285K and the standard deviation is $15K. a.) What is the probability that a home selected at random is valued between $260K and $280K? b.) What is the probability that 7 homes selected at random will have an averaged value between $260K and $280K? c.) What is the probability that a home selected at random is valued below $253K? d.) What is the probability that a home selected at random is valued...
57) If the Canadian dollar price of United States dollars increases from $.80 to $1.00, it...
57) If the Canadian dollar price of United States dollars increases from $.80 to $1.00, it can be concluded that: A) the Canadian dollar has depreciated in value relative to the United States dollar. B) both countries are on the international gold standard. C) the American dollar has depreciated in value relative to the Canadian dollar. D) the Canadian dollar has appreciated in value to the United States dollar. Answer: A EXPLAIN WHY !!!!!!!!!
Which one of the following states the value of equity in a company at a certain...
Which one of the following states the value of equity in a company at a certain point in time? a. Statement of cash flows b. Income statement c. Leverage statement d. Balance Sheet e. None of the above
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT