Compute the mean, median, and standard deviation for the homeownership data in Exercise 3....

Compute the mean, median, and standard deviation for the homeownership data in Exercise 3.10.

a. Compare the mean and median for the 1996 data. Which value is most appropriate for this data set? Explain your answer.

---

b. Is there a substantial difference between the summary statistics fur the two years? What conclusions can you draw about the change in homeownership during the 11 years using these summary statistics?

Exercise 3.10

The following table presents the homeownership rates, in percentages, by state for the years 1985 and 1996. These values represent the proportion of homes owned by the occupant to the total number of occupied homes.

a. Construct a relative frequency histogram plot for the homeownership data given in the table for the years 1985 and 1996.

---

b. What major differences exist between the plots for the two years?

---

c. Why do you think the plots have changed over these 11 years?

---

d. How could Congress use the information in these plots for writing tax laws that allow major tax deductions for homeownership?