A sample of 117 records of the selling price of homes from Feb 15 to Apr 30, 2018 was taken from the files maintained by the Albuquerque Board of Realtors.The following are summary statistics for the selling prices. $$\begin{array} { | l | l | l | l | l | l | l | l | }
\hline \text { Variable } & \mathrm { N } & \text { Mearn } & \text { Mirirmum } & \text { Q1 } & \text { Mediarl } & \text { Q3 } & \text { Maxirmlum } \
\hline \text { Prices } & 117 & 106270 & 54000 & 77650 & 96000 & 121750 & 215000 \
\hline
\end{array}$$ From this we can conclude that,
A)There are no outliers
B)More homes were sold for greater than $121750 than for less than $77650
C)68% of the selling price of these homes is from $77650 to $121750
D)25% of the selling price of these homes is at least $121750
E)The distribution of selling price of these homes is negatively skewed.

Question

A sample of 117 records of the selling price of homes from Feb 15 to Apr 30, 2018 was taken from the files maintained by the Albuquerque Board of Realtors.The following are summary statistics for the selling prices. $$\begin{array} { | l | l | l | l | l | l | l | l | } 
\hline \text { Variable } & \mathrm { N } & \text { Mearn } & \text { Mirirmum } & \text { Q1 } & \text { Mediarl } & \text { Q3 } & \text { Maxirmlum } \
\hline \text { Prices } & 117 & 106270 & 54000 & 77650 & 96000 & 121750 & 215000 \
\hline
\end{array}$$ From this we can conclude that,
A)There are no outliers
B)More homes were sold for greater than $121750 than for less than $77650
C)68% of the selling price of these homes is from $77650 to $121750
D)25% of the selling price of these homes is at least $121750
E)The distribution of selling price of these homes is negatively skewed.

Quizplus · Accepted Answer

The third quartile (Q3) represents the point below which 75% of the data fall, meaning 25% of the data are above this point. Since Q3 is $121750, 25% of the selling prices are at least $121750.

A Sample of 117 Records of the Selling Price of Homes