Professional Documents
Culture Documents
Frequency
10
14
18
22
Age
Mean
Median = (6+6)/2=6
Mode = 6
The sample mean is to the right of mode and median,
suggesting that the sample distribution is skewed
towards the right. The cause seems to be the large outlier
one car had an age of 24, which appeared to be very
different to the age of other cars. Given the skewness and
the outlier, the median is possibly a better measure of
central tendency. Hence a typical second-hand car is 6
years old.
Alternatively the EXCEL output is:
Age
Mean
Standard Error
Median
Mode
Standard Deviation
Sample Variance
Kurtosis
Skewness
Range
Minimum
Maximum
Sum
Count
7.3
1.126476
6
6
5.037752
25.37895
5.712234
2.0983
22
2
24
146
20
Mean
(Now
closer
to
2
Variance
N
10
45.89
Standard deviation 45.89 6.7742
Mean
236,064
Median
90th
10th
percen
percen
tile
tile
1,545 123,020 560,006
248,970
1,720
Mean
Australianborn
Migrant
131,152 524,372
5000000
Price $
4000000
3000000
2000000
1000000
0
0
10
20
30
40
50
60
70
80
PriceagescatterwithOLSregressionlinesuperimposed
60000
50000
Price
40000
30000
Price
Linear(PredictedPrice)
20000
10000
0
0
10
12
14
16
Age
10