Sampling Distributions – Real Estate

Use the real estate data provided in the attachment

Complete the Sampling Distributions - Real Estate Part 4 questions below.

Format your assignment consistent with APA guidelines.

1) Review the data and for the purpose of this project please consider the 100 listing prices as a population. 

• Explain what your computed population mean and population standard deviation were. 

2) Divide the 100 listing prices into 10 samples of n=10 each. Each of your 10 samples will tend to be random if the first sample includes houses 1 through 10 on your spreadsheet, the second sample consists of houses 11 through 20, and so on. 

• Compute the mean of each of the 10 samples and list them: 

3) Compute the mean of those 10 means. 

• Explain how the mean of the means is equal, or not, to the population mean of the 100 listing prices from above. 

4) Compute the standard deviation of those 10 means and compare the standard deviation of the 10 means to the population standard deviation of all 100 listing prices. 

• Explain why it is significantly higher, or lower, than the population standard deviation.