Provide (2) 200 words response with a minimum of 1 APA references for RESPONSES 1 AND 2 below. Response provided should further discuss the subject or provide more insight. To further understand the response, below is the discussion post that’s discusses the responses. 100% original work and not plagiarized. Must meet deadline and follow instructions. Please review each excel document attached for each responses to provide more insight on the reponses.
This week’s forum will be about last week’s data. My list of vehicles from last week consisted of coupes, SUV and sedans. I broke down the data mean, median, and standard deviation with statistics from the first 10 vehicles, then added the 11th supercar statistics to the additional data. After looking at both statistics, I found that the mean of the first 10 vehicles is $56,813.70 and the median is $49,949.00. With this data and the descriptive statistics, I would know the price range of the vehicles I would want. Looking at this data, buying a vehicle in these ranges, seems reasonable.
After adding the three-million-dollar super car to the second data set, the mean and SD increased significantly. The new mean is now $324,376.09, and the new SD is now, 887958.1742. The median did not increase dramatically like the other statistics. The new median is now $50,998.00, I was very surprised that the median did not increase as much.
When choosing my list of vehicles I decided to do the best rated vehicles under twenty thousand dollars. By doing this, the list that I filled out has vehicles for mostly the same price. This made my mean and median quite similar to the average price of most of the vehicles listed in my table. The lowest price for one of my vehicles was around sixteen thousand and the highest being twenty thousand. I did not plan to keep the prices relatively similar but it ended up being that way due to the criteria I had chosen.
As for my standard deviation, it was quite lower than most lists may be as it is reliable with a lower deviation because most of the vehicles have similar prices. With such a tight grouping of vehicle prices, once I added in the supercar, my mean and standard deviation changed the most. My mean increased from $18,478 to $216,798 and my standard deviation from 1371 to 6557755. I was not too surprised by this change because I knew that my vehicles ranged in price quite closely so that when I added in the two million dollar sports car, I expected to see a huge change.
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