DB Week #2

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College of the Albemarle *

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Statistics

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Apr 3, 2024

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docx

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Uploaded by leah2616550

DB Week #2 Using the real-estate data provided, I was able to find the mean, median, mode, and standard deviation of both the selling price of the real-estate and the square footage. SELLING PRICE SQUARE FEET MEAN 221,102.86 2,223.81 MEDIAN 213,600 2,200 MODE 188,300 2,100 STANDARD DEVIATION 47,105.40 248.66 There are two ways to describe the quantitative variables provided in the example; measures of location and dispersion (Lind, Marchal, & Wathen, 2019). Measures of location are the averages of numerical data, including the mean, median, and mode of a data set (Lind, Marchal, & Wathen, 2019). In comparison, dispersion measures show the variations in data, including the standard deviation (Lind, Marchal, & Wathen, 2019). The data provided can be used to calculate the distribution of the area of homes that are a part of the real estate. The mode is significantly lower than the mean and median of the two data sets; therefore, it should not be the method used to determine the data's averages. The median selling price is $213,600, and the median of the square feet is 2,200, which falls in-between the mean and the mode, but more so towards the mean. The median is unaffected by significantly higher or lower numbers in the data, which makes it the best method for averaging the data set. “The standard deviation is commonly used as a measure to compare the spread in two or more sets of observations” (Lind, Marchal, & Wathen, 2019, p. 78). The standard deviation of

the selling price compared to the square feet' standard deviation is considerably greater. This more significant deviation is the result of a broader spread of the variables for the selling price. Matthews et al. (2014) state that “one of the primary goals of any statistical procedure is to make quantifiably reliable inferences” (para. 1). In a recent article by the visual and data journalism team for BBC News (2020), there is statistical information in charts spread throughout the article that display percentages of Covid- 19 cases and deaths. The article shows the number of daily Coronavirus cases per continent. According to the graph, it shows that, as of September, Asia has the most cases out of the six continents, with Latin America and the Caribbean following. Researchers presenting statistical data need to make sure that they do so impartially and fairly. Misleading and inaccurate data can be the result of manipulation of data. This is an unethical practice that is sometimes used by businesses to gain unfair advantages over competitors. Ephesians 4:25 says, “Therefore, having put away falsehood, let each one of you speak the truth with his neighbor, for we are members one of another” (ESV). Applying this verse to statistics, we can see that God calls us to be honest with the research we present as we should not mislead one another.

References Lind, D., Marchal, W., & Wathen, S. (2019). Basic statistics for business & economics. McGraw-Hill Education. Matthews, M., Stasny, E., & Wolfe, D. (2014). Two-sample partially sequential median test procedures using ranked set sample data. Journal of Applied Statistical Science, 22 (1), 1- 19. https://search-proquest-com.ezproxy.regent.edu/docview/1864054809? accountid=13479&pq-origsite=summon The Visual and Data Journalism Team. (2020, September 2). Coronavirus pandemic: Tracking the global outbreak. BBC News. https://www.bbc.com/news/world-51235105

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