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31 votes
31 votes
In what statistical measurement would you be most interested when considering housing prices in a particular city?

User Pavel Chuchuva
by
3.0k points

1 Answer

8 votes
8 votes

Answer:

Median

Explanation:

Real estate prices are virtually usually biased to the right. If we estimate the price of a typical home in a city at $500,000. We would have no trouble locating properties for $2 million and $3 million, and perhaps even some $5 or $6 million residences. However, you won't find houses for under $1.5 million. Because of this, the mean value is pulled toward the high end more than the median value.

User Radzak
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2.9k points
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