Question

# Find every possible statistic of your data. (Mean, median, mode, standard deviation, variance, midrange, range, etc.)...

Find every possible statistic of your data. (Mean, median, mode, standard deviation, variance, midrange, range, etc.) explain what these statistics mean in the context of your data without defining or using a formula. Is the statistic realistic of the population? Is it skewed? How is it distributed? What level of measurement is it?

2005 Kelly Blue Book Used Cars

 Price Mean \$21,343.14 Standard Error \$348.61 Median \$18,025.00 Mode \$10,921.95 Standard Deviation \$9,884.85 Sample Variance 97710314.9 Range \$62,116.54 Minimum \$8,638.93 Maximum \$70,755.47 Sum \$17,159,887.59 Count 804

THESE ARE THE Descriptive statistics. THE MEAN PRICE OF CAR IS  \$21,343.14.

MEDIAN PRICE OF CAR IS \$18,025.00

MAXIMUM PRICE OF CAR IS \$70,755.47

MINIMUM PRICE OF CAR IS \$8,638.93

Variance= 97710314.9 A large variance indicates that the data points tend to be far from the mean.

Yes the statistic realistic of the population. Here sample size is large enough to be the realistic of the population.

Since Mean is GREATER than median therefore the data is positively skewed.Since n>50 so we can say that data is normally distributed. This is ratio level of measurement.

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