compute the mean and standard deviation of the distribution of home selling prices

The extension of the probability concept helps us develop the idea of how populations are distributed. The probability of a single event happening from a larger population increases in such a way that the events closest to the mean are more likely than events far from the mean.

Refer to the real estate data located below.

Compute the mean and standard deviation of the distribution of home selling prices. Develop a histogram of the data. (SPSS: Graphs – Graphboard Template Chooser – Select Price, then Histogram with Normal Distribution). (Minitab: Graph – Histogram – With Fit – Graph variable = Price). Would it seem reasonable from this histogram to conclude that the population of selling prices follows the normal distribution?

Biblical Application:

The Bible is filled with the use of numbers and statistics (i.e. Exodus 25:10-16-Ark of the Covenant). Compare and contrast one biblical concept of statistics and how we should live our lives.

200 to 300 words

minimum of two academic peer reviewed scholarly articles

 

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