In Unit 10, we are learning about statistics. Measures of central tendency or “average” are arguably the most common statistics we use in day to day life. For this discussion, we will see how measures of central tendency can be used to make comparisons when we are considering a major purchase.
You are looking for a home in your area. Go to a website that shows home prices in your area and allows you to search based on specific criteria. Identify at least three criteria (e.g., number of bedrooms, number of bathrooms, square footage, type of heat) you can use to narrow your search and find the prices of at least ten homes. Do not include price as one of the criteria as we would like to see a range of prices.
- What criteria did you use in your home search?
- List the prices (ten or more) of the homes you found.
- Find the mean, median, mode (if applicable), of the home prices. If there is no mode, explain why.
Explain your calculations and show all work. Review an example of a response for this Discussion.
Choose one of your classmate’s Post 1 and check the calculations for each of the measures of central tendency. If you find an error, tactfully point it out. Which measure of central tendency do you feel best represents the typical home price meeting those criteria? Why? Why are the measures of central tendency the same or different?
Note: For more information on the circumstances under which each measure of central tendency is used, see pages 799-800 in our digital book.
Review an example of a response for this Discussion.
Find a home in your area comparable to the ones listed by your classmate and add its price to their list. Without doing any calculations, do the following:
- What do you expect to happen to the mean? Will it increase, decrease or stay the same? Why?
- What do you expect to happen to the median? Will it increase, decrease or stay the same? Why?
- What do you expect will happen to the mode? Will it increase, decrease or stay the same? Why?