## (solution) Sampling Distributions - Real Estate Part 2 - Assessment

Sampling Distributions ? Real Estate Part 2 - Assessment Activity - Week3 - QNT/351 - eCampus

Use the real estate data provided.

Complete the following requirements:

Review the data for completeness.  For the purpose of this project consider the 100 listing prices as a population.

I.  Calculate the Population Mean (µ) and Population Standard Deviation (?).  Divide the 100 listing prices into 10 samples of n=10 each.  Compute the mean (x bar) of each of the 10 samples. You will have ten means after you complete this requirement.  Compute the mean of those 10 means.  Present the output from your calculations and explain how the mean of the means is equal to, or not equal to, the population mean of the 100 listing prices. (25 words).

II.  Compute the standard deviation of those 10 means and compare the standard deviation of the 10 means to the population standard deviation of all 100 listing prices. Present the output from your calculations and explain why it is significantly higher, or lower, than the population standard deviation. (25 words).

III.  According to the Empirical Rule, what percentage of your sample means should be within one standard deviation (plus or minus) of the population mean?  Do your sample means conform to the rule? (25 words).

IV.  According to the Empirical Rule, what percentage of your sample means should be within two standard deviations (plus or minus) of the population mean?  Do your sample means conform to the rule? 25 words).

V.  Should you use the Empirical Rule or should you have used Chebyshev's Theorem to analyze your real estate data set? Why? (25 words).

Format your assignment consistent with APA guidelines.  Ensure you submit the excel workbook, showing your data set and calculations, along with your answers to the requirements above.  Include the correct citation for the data set you downloaded and used for this assignment.

1944 State St #8

527 10th Ave #602

350 K St #416

701 Kettner #149

1608 India St #605

325 7th Ave #1207

300 W Beech St #904

985 Island #1

1325 Pacific Hwy #2305

1640 10Th #107

325 7th Ave #1105

575 6th Ave #703

555 Front #1004

100 Harbor Dr #2106

1240 India St #2405

2400 5Th #405

1199 Pacific Hwy #1305

330 J #202

550 Park Blvd #2506

1150 J St #719

350 11th Ave #920

500 W Harbor Dr #117

530 K St #1017

1150 J St #703

325 7th Ave #609

1608 India #409

424 W Ivy St

2524-26 Horton Ave

1150 J St #202

101 Market St #221

300 W Beech St #1809

645 Front St #914

850 BEECH #305

120 Island #329

425 W Beech #507

1025 Island #309

1501 Front St #344

525 11th #1208

550 15th St #309

700 W Harbor Dr #103

1150 J St #424

450 J St #4061

230 W Laurel St #301

1205 Pacific Hwy #502

1025 Island Ave #506

701 Kettner Blvd #216 All Listings in San Diego 92101

LIST PRICE

695000

475000

519900

565000

519000

639000

434900

344900

949900

447000

850000

340000

1199000

719000

475000

429000

1050000

509000

380000

630000

789000

725000

455000

286000

549900

674900

750000

2250000

429900

369000

689900

799000

397000

339000

519000

399000

365000

364500

297000

625000

319900

549900

849900

995000

695000

639000 SQFT BEDS

1228

883

933

1002

916

935

687

580

1196

1004

1183

482

1544

1036

680

787

1625

976

738

1199

1464

1296

661

571

934

1102

1855

3549

966

681

1109

1302

852

626

989

727

658

700

725

1133

718

958

1794

1625

1317

1244 2

1

2

2

1

2

1

1

2

2

2

0

2

1

1

1

3

2

1

2

2

1

1

0

2

2

4

6

2

1

3

2

1

0

2

1

1

1

0

1

0

2

3

2

3

2 350 W Ash #802

1640 10th Ave #306

1262 Kettner #604

550 Front St #702

1514 7th Ave #606

877 Island Ave #108

1080 Park Blvd #202

120 Island Ave #224

1780 Kettner Blvd #516

206 Park Blvd #504

1580 Union St #302

645 Front #317

700 W E St #1803

850 Beech St #602

645 Front St #604

1650 8th #109

645 Front St #1109

550 Front St #908

350 W Ash St #1108

700 Front #602

889 Date #541

702 Ash St #407

702 Ash St #303

800 The Mark Ln #1601

700 Front St #1306

550 Front #1805

500 W Harbor Dr #1610

1325 PACIFIC Hwy #1606

550 Front St #301

101 Market St #102

206 Park Blvd #304

1050 Island #322

321 10th Ave #1801

889 Date St #224

1325 Pacific Hwy #109

555 Front St #2202

550 FRONT St #2103

850 Beech #1302

120 Island Ave #334

800 The Mark Ln #1005

877 Island Ave #510

850 State St #215

645 Front St #507

1750 Kettner Blvd #112

330 J St #201

550 Front St #2903

2440 Albatross St

1225 Island Ave #116 449900

399000

388000

539000

559000

649500

369900

349000

949900

620000

565000

1135000

875000

399000

649000

435000

1199000

1495000

599000

1650000

459000

370000

295000

835500

750000

1798000

1199000

1049000

995000

349500

609900

485000

684900

320000

779900

2395000

3450000

925000

309900

515000

815000

555000

739900

599990

515000

2085000

1765000

325000 846

1158

682

683

1348

1507

854

675

1697

1101

1000

2249

1370

793

1237

952

1700

1509

877

2610

971

782

680

1324

1460

1596

1433

1228

1509

695

1101

894

1103

606

1431

2752

1402

1680

767

879

1377

1282

1256

1270

990

1395

3782

667 0

2

1

1

3

0

1

0

2

2

2

2

2

1

2

2

2

2

0

2

2

1

1

2

1

3

2

3

2

1

2

1

2

0

2

3

1

3

1

1

0

2

2

2

2

2

4

1 2400 5th Ave #407

1080 Park Blvd #702

235 Market #601

850 BEECH St #905

800 The Mark #1001 379000

449900

650000

699000

799000 800

1029

1308

1389

1324 1

2

3

2

2

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