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Suppose we gathered the following list of home prices.$70,000 $121,000 $121,000 $121,000 $126,000 $135,000 $135,000 $180,000 $190,000Find the mean, median, and mode of these home prices (to the nearest thousand).

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To start with, we will first re-arrange the data set, in ascending order and then give the also show frequency

We can begin by finding the mode of the home prices

The mode is the home price with the highest frequency

From the table,

The mode


\begin{gathered} \mod e=\text{ \$121,000} \\ \text{Because it occurs the most (3 times)} \end{gathered}

The median is the middle data of the data set there are 9 data set (An odd set)


\begin{gathered} \operatorname{median}=((n+1)/(2))^(th) \\ \\ \text{where n=9} \end{gathered}

The median


\begin{gathered} \operatorname{median}=(9+1)/(2)=5^{th\text{ }}data \\ \text{medain}=\text{ \$126,000} \end{gathered}

The mean is the average of the data set

It can be obtained by


\begin{gathered} \bar{x}=\frac{\sum ^{}_{}fx}{\sum ^{}_{}f}=(70000+121000(3)+126000+135000(2)+180000+190000)/(9) \\ \\ \bar{x}=\operatorname{mean}=\text{ \$133222.222} \end{gathered}

The mean to the nearest thousand will be $133,000

Suppose we gathered the following list of home prices.$70,000 $121,000 $121,000 $121,000 $126,000 $135,000 $135,000 $180,000 $190,000Find-example-1
User Neha Choudhary
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