Question

The prices of 10 single-family, three-bedroomhomes for sale in Boston, Massachusetts, arelisted for a recent year. Find the mean, median,and mode (if one exists).$300,000, $2,495,000, $2,120,000, $220,000,$194,000, $391,000, $315,000, $330,000,$435,000, $250,000

Answer 1

The Solution.

The given data is

300000, 2495000, 2120000, 220000, 194000, 391000, 315000, 330000, 435000, 250000.

Re-arranging the above data in ascending order of magnitude, we have

194000, 220000, 250000, 300000, 315000, 330000, 391000, 435000, 2120000, 2495000.

Therefore, the mean is

`\begin{gathered} Mean=\frac{\text{ sum}}{\text{ number }} \\ \\ \text{Mean}=((194+220+250+300+315+330+391+435+2120+2495)1000)/(10) \\ \\ \text{Mean}=(7050000)/(10)=\text{ \$705,000} \end{gathered}`

The Median is the sum of the two middle numbers divided by 2. That is,

`\text{Median}=(315000+330000)/(2)=(645000)/(2)=\text{ \$322,500}`

There is no mode since none of the numbers appeared more than once.

`\text{Mode}=\text{ does not exist}`