The New York Times wants to report data...

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belleuhms

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I've been stuck between two answers & I just don't know which it is.
The New York Times wants to report data concerning the rise in housing prices between 2010 and 2011. Which of the following statistics would they use to report that rise?


  1. The range
  2. The standard deviation
  3. The mean
  4. The mode
  5. The median

I'm stuck between either the range or the mean. Is it the mean because the rise of house prices can be seen in average prices? Or else I think it's the range because it's the difference between the two years that show the rise in house prices?
Any help would be greatly appreciated!

Thank you!
 
belleuhms said:
I've been stuck between two answers & I just don't know which it is.
The New York Times wants to report data concerning the rise in housing prices between 2010 and 2011. Which of the following statistics would they use to report that rise?


  1. The range
  2. The standard deviation
  3. The mean
  4. The mode
  5. The median

I'm stuck between either the range or the mean. Is it the mean because the rise of house prices can be seen in average prices? Or else I think it's the range because it's the difference between the two years that show the rise in house prices?
Any help would be greatly appreciated!

Thank you!
Click to expand...
Between the two I would pick the average as it shows that the prices, on average, went up. If all the prices went up by $200 then the range would be the same. And in fact only the extreme prices need to go up, say, $200 for the range to remain unchanged.
 
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