The mayor of Beltsville has commissioned a research company to estimate the average age of the houses in a large historical district in the town.Data on 120 randomly selected properties are collected,and a histogram of the sample data shows a right-skewed distribution with several large outliers.The person leading this project decides that the standard t procedures should not be used.He decides to use the 25% trimmed mean as a measure of center.The leader of the project then decides to bootstrap the 25% trimmed mean.The bootstrap distribution is shown below.Some summary measures are given as well. Number of Replications: 500
Summary Statistics:
Observed Mean Bias SE
TrimMean 53.675 53.05 4.67
Percentiles:
2.5% 5% 25% 50% 75% 95% 97.5%
TrimMean 41.05 44.28 50.45 53.20 56.05 60.80 63.82
The dashed line in the histogram represents the mean of the resamples.The solid line represents the observed value of the trimmed mean in the original sample.
As part of the summary measure,the value 4.67 is reported as the SE.How was this value calculated,and what does it represent?

Question

The mayor of Beltsville has commissioned a research company to estimate the average age of the houses in a large historical district in the town.Data on 120 randomly selected properties are collected,and a histogram of the sample data shows a right-skewed distribution with several large outliers.The person leading this project decides that the standard t procedures should not be used.He decides to use the 25% trimmed mean as a measure of center.The leader of the project then decides to bootstrap the 25% trimmed mean.The bootstrap distribution is shown below.Some summary measures are given as well.  Number of Replications: 500
Summary Statistics:
Observed Mean Bias SE
TrimMean 53.675 53.05 4.67
Percentiles:
2.5% 5% 25% 50% 75% 95% 97.5%
TrimMean 41.05 44.28 50.45 53.20 56.05 60.80 63.82
The dashed line in the histogram represents the mean of the resamples.The solid line represents the observed value of the trimmed mean in the original sample.
As part of the summary measure,the value 4.67 is reported as the SE.How was this value calculated,and what does it represent?

Quizplus · Accepted Answer

The Answer of The mayor of Beltsville has commissioned a research company to estimate the average age of the houses in a large historical district in the town.Data on 120 randomly selected properties are collected,and a histogram of the sample data shows a right-skewed distribution with several large outliers.The person leading this project decides that the standard t procedures should not be used.He decides to use the 25% trimmed mean as a measure of center.The leader of the project then decides to bootstrap the 25% trimmed mean.The bootstrap distribution is shown below.Some summary measures are given as well.  Number of Replications: 500
Summary Statistics:
Observed Mean Bias SE
TrimMean 53.675 53.05 4.67
Percentiles:
2.5% 5% 25% 50% 75% 95% 97.5%
TrimMean 41.05 44.28 50.45 53.20 56.05 60.80 63.82
The dashed line in the histogram represents the mean of the resamples.The solid line represents the observed value of the trimmed mean in the original sample.
As part of the summary measure,the value 4.67 is reported as the SE.How was this value calculated,and what does it represent?

The Mayor of Beltsville Has Commissioned a Research Company to Estimate