Explain how much more or less the standard deviation of sample means was than th

Question

Explain how much more or less the standard deviation of sample means was than the population standard deviation. According to the formula for standard deviation of sample means, it should be far less. (That formula is = /n = /10 = /3.16 ) Does your computed agree with the formula?

4

Cost of Houses

Sq. Ft.

Mean

$361,042.70

2901.06

Median

$325,000.00

2760.5

Mode

$499,900.00

3454

Range

$1,295,000.00

5628

$35,000.00

1180

Variance

$378,586,859.80

12505.08076

Standard Deviation

$19,457.31

111.8261184

Address Listing Price Sq. Ft. Bedrooms 17640 Palladium Ln, Edmond, OK 73012 $165,000.00 1564 3 817 Willow Ridge Pl, Edmond, OK 73003 $129,000.00 1180 3 2016 Pembroke Ln, Edmond, OK 73003 $298,500.00 2457 3 2152 Melody Dr, Edmond, OK 73012 $187,500.00 1828 3 1006 Dustin Dr, Edmond, OK 73003 $147,500.00 1552 3 1609 Foxfire Rd, Edmond, OK 73003 $159,800.00 1495 3 19120 Meadows Crossing Dr, Edmond, OK 73012 $220,000.00 1651 3 4324 Man O War Dr, Edmond, OK 73025 $394,500.00 3495 4 4601 Sarava Dr, Edmond, OK 73025 $479,000.00 3405 4 1500 NW 190th St, Edmond, OK 73012 $608,400.00 5628 6 1404 NW 190th St, Edmond, OK 73012 $548,600.00 5029 4 1409 NW 190th St, Edmond, OK 73012 $549,800.00 4932 5 4522 Wagonwheel Rd, Edmond, OK 73034 $349,900.00 3296 4 1304 NW 189th St, Edmond, OK 73012 $528,600.00 4826 4 2616 Roaring Fork Trl, Edmond, OK 73034 $534,900.00 3376 4 1501 NW 191st St, Oklahoma City, OK 73012 $452,150.00 3896 4 3225 Hillside Dr, Edmond, OK 73012 $599,900.00 3900 4 19109 Chestnut Oak Dr, Edmond, OK 73012 $424,700.00 3592 5 1308 NW 191st St, Edmond, OK 73012 $423,300.00 3592 5 1400 NW 191st St, Edmond, OK 73012 $422,900.00 3454 4 16405 Big Cypress Dr, Edmond, OK 73013 $143,900.00 1267 3 1616 Blue Bird Cir, Edmond, OK 73034 $444,900.00 3190 3 1620 Castellina Ct, Edmond, OK 73034 $419,000.00 3454 4 14435 S Midwest Blvd, Edmond, OK 73034 $434,900.00 3376 4 2809 NW 189th St, Edmond, OK 73012 $185,000.00 1513 3 3224 Hillside Dr, Edmond, OK 73012 $519,500.00 3465 4 2117 Foxfire Rd, Edmond, OK 73003 $134,900.00 1273 3 7009 NW 161st St, Edmond, OK 73013 $259,900.00 1945 3 1801 Duxsford Ct, Edmond, OK 73034 $625,000.00 4553 4 928 NW 186th St, Edmond, OK 73012 $325,000.00 2522 4 1008 NW 185th St, Edmond, OK 73012 $362,000.00 2841 4 725 NW 141st St, Edmond, OK 73013 $159,900.00 1895 3 14494 Ashwood Ct, Edmond, OK 73025 $257,000.00 2275 4 900 NW 186th St, Edmond, OK 73012 $335,000.00 2682 3 21206 NW River Lark Ln, Edmond, OK 73012 $159,900.00 1338 3 14016 Canterbury Dr, Edmond, OK 73013 $255,000.00 2123 4 3905 NE 143rd St, Edmond, OK 73013 $180,000.00 1800 3 3233 Heritage Green Trl, Edmond, OK 73003 $540,000.00 4302 4 15200 Daybright Dr, Edmond, OK 73013 $299,900.00 2199 3 17121 Bedford Dr, Edmond, OK 73012 $235,000.00 2295 4 14110 Crossing Way E, Edmond, OK 73013 $120,000.00 1309 2 1416 Shalamar Rd, Edmond, OK 73013 $179,900.00 2070 4 14408 Oxford Dr, Edmond, OK 73013 $299,000.00 3208 4 2061 NE Rivanna Way, Edmond, OK 73034 $589,000.00 4905 4 3008 Nantucket Ln, Edmond, OK 73013 $178,500.00 1839 3 7061 Cedar Lake Dr, Edmond, OK 73034 $445,050.00 2967 3 300 Heritage Green Rd, Edmond, OK 73003 $557,900.00 3781 5 1509 NW 186th St, Edmond, OK 73012 $450,000.00 4102 4 3427 Cheyenne Villa Cir, Edmond, OK 73013 $394,000.00 2572 2 209 NW 160th Ter, Edmond, OK 73013 $215,000.00 2124 4 621 NW 138th St, Edmond, OK 73013 $137,500.00 1582 3 16201 Windrush Pl, Edmond, OK 73013 $360,000.00 3191 4 16753 Little Leaf Ct, Edmond, OK 73012 $419,000.00 2884 4 2405 Golden Ln, Edmond, OK 73012 $165,000.00 1332 3 17513 Braken Dr, Edmond, OK 73012 $259,000.00 2131 3 17501 Braken Dr, Edmond, OK 73012 $259,000.00 2128 3 1844 Raineys Blvd, Edmond, OK 73025 $319,900.00 2944 4 11716 Slash Pine Dr, Edmond, OK 73013 $976,000.00 4894 5 1707 Crossbow, Edmond, OK 73034 $494,900.00 3819 4 1224 Jamestown, Edmond, OK 73003 $179,000.00 1993 3 11501 Hillsdale Dr, Edmond, OK 73013 $1,295,000.00 5380 4 3016 Mackenzie Ave, Edmond, OK 73013 $614,900.00 5241 6 13409 Tahoe Dr, Edmond, OK 73013 $499,000.00 3503 5 3225 Briargate Rd, Edmond, OK 73034 $344,900.00 2500 3 1805 Rolling Creek Rd, Edmond, OK 73034 $199,500.00 1990 4 3000 Mackenzie Ave, Edmond, OK 73013 $499,900.00 4185 4 3000 Shilstone Ct, Edmond, OK 73013 $499,900.00 3980 4 3001 Shilstone Ct, Edmond, OK 73013 $489,900.00 4160 4 3017 Shilstone Ct, Edmond, OK 73013 $449,900.00 3785 4 3008 Shilstone Ct, Edmond, OK 73013 $519,900.00 4218 4 2070 Raineys Blvd, Edmond, OK 73025 $264,900.00 2221 4 1156 Villas Creek Dr, Edmond, OK 73003 $450,000.00 3454 3 317 NW 146th St, Edmond, OK 73013 $519,000.00 4114 4 1340 Kelley Pointe Pkwy, Edmond, OK 73013 $300,240.00 2350 4 2000 Sweetgrass Cir, Edmond, OK 73013 $252,240.00 1900 4 2117 Marbleseed Ct, Edmond, OK 73013 $235,740.00 1800 4 1865 Tall Grass Ct, Edmond, OK 73012 $207,500.00 2055 3 4516 Boulder Bridge Way, Edmond, OK 73034 $380,000.00 2839 4 1505 Spoon Ct, Edmond, OK 73025 $242,900.00 2237 4 1700 Running Branch Rd, Edmond, OK 73013 $202,900.00 2268 4 7952 Lindsay Ln, Edmond, OK 73025 $232,500.00 2043 4 6004 Chestnut Ct, Edmond, OK 73025 $310,000.00 3202 3 2724 NW 161st St, Edmond, OK 73013 $195,000.00 1898 3 5717 Wynstone Dr, Edmond, OK 73034 $600,000.00 3786 4 2425 NW 176th St, Edmond, OK 73012 $248,900.00 2112 3 1717 NW 185th St, Edmond, OK 73012 $316,000.00 2876 4 2105 Mark Rd, Edmond, OK 73003 $199,900.00 2294 4 3217 Brownwood Ln, Edmond, OK 73034 $35,000.00 1923 4 16725 Little Leaf Ln, Edmond, OK 73012 $574,900.00 3926 4 2216 NW 172nd St, Edmond, OK 73012 $190,000.00 1600 2 6608 Acorn Dr, Edmond, OK 73025 $765,000.00 4149 3 1208 San Fidel Ln, Edmond, OK 73003 $144,900.00 1484 3 724 Northern Dancer Dr, Edmond, OK 73025 $305,900.00 2394 3 5213 Dalton Cir, Edmond, OK 73034 $244,000.00 2061 4 36 NW 147th St, Edmond, OK 73013 $329,900.00 3905 4 1826 Three Stars Rd, Edmond, OK 73034 $73,000.00 1597 3 4217 Frisco Bridge Blvd, Edmond, OK 73034 $699,000.00 4257 4 1533 Pembroke Dr, Edmond, OK 73003 $559,900.00 4751 5 1209 NW 190th Pl, Edmond, OK 73012 $225,000.00 2237 4 5308 Arch Bridge Ct, Edmond, OK 73034 $489,950.00 3200

4

Cost of Houses

Sq. Ft.

Mean

$361,042.70

2901.06

Median

$325,000.00

2760.5

Mode

$499,900.00

3454

Range

$1,295,000.00

5628

$35,000.00

1180

Variance

$378,586,859.80

12505.08076

Standard Deviation

$19,457.31

111.8261184

Explanation / Answer

Let us take sample data and compare them

sample , n=10

standard deviation actually

for houses = 158534

for square feet= 1212

But with formula sigma/ 3.16=

for houses =19471/3.16 = 6161

for sq feet =111.82 /3.16= 35.386

which are far less than the calculated ones

Similar thing happens for other cases also

21206 NW River Lark Ln, Edmond, OK 73012 $159,900.00 1338 3 14016 Canterbury Dr, Edmond, OK 73013 $255,000.00 2123 4 3905 NE 143rd St, Edmond, OK 73013 $180,000.00 1800 3 3233 Heritage Green Trl, Edmond, OK 73003 $540,000.00 4302 4 15200 Daybright Dr, Edmond, OK 73013 $299,900.00 2199 3 17121 Bedford Dr, Edmond, OK 73012 $235,000.00 2295 4 14110 Crossing Way E, Edmond, OK 73013 $120,000.00 1309 2 1416 Shalamar Rd, Edmond, OK 73013 $179,900.00 2070 4 14408 Oxford Dr, Edmond, OK 73013 $299,000.00 3208 4 2061 NE Rivanna Way, Edmond, OK 73034 $589,000.00 4905 4

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