Interpreting Descriptive Statistics

Interpretation of Results

Price Range

Frequency

0-50

0

51-100

0

101-150

0

151-200

6

201-250

35

251-300

30

301-350

9

The histogram shows that the number of house within range from $150001-$200000 are 6 in the given data. The price range of the houses is taken as a gap of $50000. Similarly, the other houses price ranges are explained in the histogram. The majority of the houses are varying in the prices between $200,000 - $300,000, in fact 80% of the houses are in this range. There is no house out of the 80 house that has the prices within $100,000.

The Descriptive Statistics

The mean prices for the houses in US is almost $253,000 with a ...