Statistics Homework Solutions
Problem
#4204

graph, stem and leaf, range and mode

AS A RESULT OF A PROLONGED ECONOMIC BOOM, TORONTO IS UNDERGOING SEVERAL CHANGES THAT ARE STARTING TO CAUSE SOCIAL AND ECONOMIC PROBLEMS. ONE SERIOUS PROBLEM IS THE LACK OF AFFORDABLE HOUSING FOR YOUNG PEOPLE.  THE
HOUSING PRICES OVER A 12-MONTH PERIOD ARE SHOWN BELOW.
JAN   $195,000                  JUL   $205,000
FEB    196,000                  AUG    199,400
MAR    205,000                  SEP    201,000
APR    210,000                  OCT    197,000
MAY    212,000                  NOV    192,000
JUN    210,000                  DEC    190,000

A. GRAPH THE DATA IN A CHART. DESCRIBE THE TREND YOU SEE.
B. CALCULATE THE MEAN AND STANDARD DEVIATION.
C. CONSTRUCT A STEM AND LEAF DISPLAY OF THESE DATA.
D. CALCULATE THE RANGE AND MODE OF THESE DATA.
E. IF 195,000 IS CONSIDERED THE THRESHOLD FOR AFFORDABILITY, CAN WE CONCLUDE AT THE 5% LEVEL OF
SIGNIFICANCE THAT THE THRESHOLD HAS INCREASED IN THIS PERIOD?

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