Would the mode be a useful summary statistic for these data? Why? ...

[ishan]

Would the mode be a useful summary statistic for these data? Why?
 
  What will be an ideal response?

Question 2

Calculate the forecast value for the year 1905, if the real home price index for that year is 98.056.
 
  A) 100.31
  B) 98.51
  C) 98.06
  D) cannot be determined

[momolu]

Answer to Question 1

The mode is defined to be the most common value, and is most often used to describe qualitative data. Here, the data are quantitative. The mode is not very useful for such data.

Answer to Question 2

B

[ishan]

Thanks for the timely response, appreciate it

[yeungji]

Gracias!