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Krispylynn33 Krispylynn33
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A month ago
The provided histogram displays the prices (in thousands of dollars) of 25 homes sold in 2019 in a Midwestern city.

A histogram depicts the prices of 25 homes sold in 2019 in a Midwestern city. The horizontal axis is labeled, Recently sold home prices and has markings from 100 to 550 in increments of 50. The vertical axis is labeled, frequency and ranges from 0 to 9 in increments of 1. At 100, the bar extends up to the count, 1. At 150, the bar extends up to the count, 1. At 200, the bar extends up to the count, 9. At 250, the bar extends up to the count, 8. At 300, the bar extends up to the count, 3. At 350, the bar extends up to the count, 2. At 550, the bar extends up to the count, 1. There are no bars above 400, 450, and 500.

In general, this shape, right skewed with some unusually high values, is common for describing home values in many cities. For this reason, the median home value for a city is a useful parameter. This sample of recently sold homes had a median price (value) of $232,500. Someone considering moving to this city is interested in knowing if the median home value is more than $200,000.

Describe how you would generate a single randomization sample in this situation, and identify the statistic you would calculate from the sample.
Textbook 
Statistics: Unlocking the Power of Data

Statistics: Unlocking the Power of Data


Edition: 3rd
Authors:
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jasmjasm
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