The May 1, 2009, issue of a certain publication reported thefollowing home sale amounts for a sample of homes in Alameda, CAthat were sold the previous month (1,000s of $). 589 814 580 606354 1,290 405 535 554 681 (a) Calculate and interpret the samplemean and median. The sample mean is x = thousand dollars and thesample median is x tilde = thousand dollars. This means that theaverage sale price for a home in this sample was $ and that halfthe sales were for less than the Correct: Your answer is correct.price, while half were more than the Correct: Your answer iscorrect. price. (b) Suppose the 6th observation had been 985 ratherthan 1,290. How would the mean and median change? Changing that onevalue lowers the sample mean but has no effect on the samplemedian. Changing that one value has no effect on the sample meanbut raises the sample median. Changing that one value has no effecton either the sample mean nor the sample median. Changing that onevalue raises the sample mean but has no effect on the samplemedian. Changing that one value has no effect on the sample meanbut lowers the sample median. (c) Calculate a 20% trimmed mean byfirst trimming the two smallest and two largest observations.(Round your answer to the nearest hundred dollars.) $ (d) Calculatea 15% trimmed mean. (Round your answer to the nearest hundreddollars.) $
