Exercise 2 (4 points)
Here are some statistics about home sales by two competing real estate agencies. Sales prices were measured in euros.
Agency A Agency B
Mean 240 000 350 000
Variance 3 249 000 000 3 721 000 000
Standard deviation 57 000 61 000
Coefficient of variation 0,24 0,17

a. Interpret the central tendency and variation of sales prices realised by agency A.
b. Which measure do you think is best suited to compare the variation in sales prices between the two agencies? Why? Choose the appropriate indicator and interpret.