Question

A real estate agent used the mean and MAD to argue that the home prices of Cinnamon Court were lower and more variable than those of Pepper Hill Road. How would her argument differ if she used the median and IQR? Explain.

Answer 1

Using median and IQR would assist in better analyzing the dataset having deviations.

Step-by-step explanation:

• In comparison to MAD and mean, Median and IQR are finer tools that assist in examining the set of data containing outliers.
• Median will help in comparing the home prices of Pepper Hill Road and Cinnamon court.
• While IQR would assist in examining the differences or variability amongst the prices of the Court and Hill Road.

Learn more: Median and IQR

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Answer 2

Answer:

The median and IQR are better statistical measures when a data set has outliers. Using the median, you can infer that the home prices for Cinnamon Court are higher than those of Pepper Hill Road. Using the IQR you can infer that home prices on Cinnamon Court are less variable than on Pepper Hill.

Step-by-step explanation: