Statistics: The Art and Science of Learning from Data (4th Edition)

4th Edition

ISBN: 9780321997838

Author: Alan Agresti, Christine A. Franklin, Bernhard Klingenberg

Publisher: PEARSON

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Textbook Question

Chapter 14.2, Problem 12PB

House prices and age For the House Selling Prices OR data file on the book’s website, the output shows the result of conducting an ANOVA comparing mean house selling prices (in $1000) by Age Category (New = 0 to 24 years old. Medium = 25 to 50 years old. Old = 51 to 74 years old. Very Old = 75 + years old). It also shows a summary table of means and standard deviations of the selling prices, by age group.

a. Using information given in the tables, show how to construct a 95% confidence interval comparing the population means of new and medium-aged houses.
b. Interpret the confidence interval.

Chapter 14.2, Problem 12PB, House prices and age For the House Selling Prices OR data file on the books website, the output

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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Chapter 14.1, Problem 11PB

Chapter 14.2, Problem 13PB

Chapter 14 Solutions

Statistics: The Art and Science of Learning from Data (4th Edition)

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Solution Summary: The given ANOVA table compares the mean house selling prices by age categories. The 95% confidence interval for new and medium-aged houses is (28.7,97.3).

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Chapter 14 Solutions