(Requires Excel version 2016 or later for box plots) The file P02_11.xlsx contains data on 148 houses that were recently sold in a (fictional) suburban community. The data set includes the selling price of each house, along with its appraised value, square footage, number of bedrooms, and number of bathrooms.
- Create two new variables, Ratio 1 and Ratio 2. Ratio 1 is the ratio of Appraised Value to Selling Price, and Ratio 2 is the ratio of Selling Price to Square Feet. Identify any obvious outliers in these two Ratio variables.
- Find the mean, median, and standard deviation of each Ratio variable, broken down by Bedrooms. Also, create side-by-side box plots of each Ratio variable, again broken down by Bedrooms. Comment on the results.
- Repeat part b with Bedrooms replaced by Bathrooms.
- If you repeat parts b and c with any obvious outlier(s) from part a removed, do the conclusions change in any substantial way?
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