Question

Selling Price ($000)	House Size (sq. ft)	Number of Bedrooms	Number of Bathrooms
220	880	2	1.5
135	590	1	1
225	880	2	2
225	840	2	1
280	1510	3	2
215	915	2	2
205	900	2	2
170	590	1	1
225	1040	2	2
320	1070	2	2
149	590	1	1
240	980	3	1
700	1580	3	2
300	1450	2	2.5
235	950	2	2
395	1130	2	2
320	1170	2	2
296	1130	3	2
210	820	2	1
275	1060	3	2
265	835	2	2
238	1130	3	2
285	940	2	2
239	650	1	1
210	920	2	1 A) selling price Mean ? B) Price std deviation? C) Are there any price outliers according to the "3 standard deviation from the mean" rule? C1) Lower outliner limit? C2) Upper outliner limit?

Answer 1

(C)

Selling Price (x)	Z-score=(x-263080)/105124.66
220000	-0.41
135000	-1.22
225000	-0.36
225000	-0.36
280000	0.16
215000	-0.46
205000	-0.55
170000	-0.89
225000	-0.36
320000	0.54
149000	-1.09
240000	-0.22
700000	4.16	Outlier
300000	0.35
235000	-0.27
395000	1.25
320000	0.54
296000	0.31
210000	-0.5
275000	0.11
265000	0.02
238000	-0.24
285000	0.21
239000	-0.23
210000	-0.5

Yes there is an outlier whose selling price=$700000