00:01
So we have this box plot here and it shows the data for the selling price of homes in a certain neighborhood and 200, 300, 400, 500, so i'm going to say these are in hundreds of thousands of dollars.
00:11
So for a, we're asked the typical selling price.
00:14
So for that we'll use the median value.
00:16
So looking at this data, so here's 200, here's 300, 250 is going to be here.
00:23
So roughly 275 ,000.
00:29
And that is the, i'm just going on the median.
00:31
This is the median value.
00:33
The exact middle value.
00:36
All right, and then the second question, part b, asks us the cheapest 25 % of homes sold for what range of prices.
00:44
So the way this box plot works is you have your minimum value here, here's your minimum.
00:50
This is the first quartile.
00:52
The median is the median, the exact middle value.
00:55
Q3, third quartile, and then here's the maximum.
00:59
And then the way the box plot works is it cuts up the data into 25 % increments.
01:03
So one quarter, actually before we do that, the median cuts it into 50 -50.
01:10
So 50 % below, 50 % above.
01:12
So there's 50 % all over here.
01:16
And then there's 50 % up here...
