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Suppose you are looking for a house to purchase, and have a maximum price you can afford. To help decide which neighborhoods to shop for a home in, which is most useful to you?a. the mean house priceb. the median house pricec. the mode house priced. the SD of the house pricee. the range of the house price

User Xorguy
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Answer:

Mean

Explanation:

-Mean is the average calculated by adding up all the prices and dividing them by the number of prices.

-Median is the middle value in the group of prices after they are organized from the lowest to the highest.

-Mode is the price that is repeated more frequently in the data set.

-SD refers to the quantity of variation between the prices.

-The range is the difference between the highest and the lowest price.

According to this, the answer is that the most option is the mean house price because it indicates the center of the values and it allows to get an overall idea of the prices which would allow you to have a clear view about the neighborhoods where you can shop for a home in.

The other options are not right because the median would indicate the middle value and the mode the most repeated value but they don't necessarily provide an exact image of the prices as for example, the most repeated value does not necessarily reflects the values of all the houses in the neighborhood. Also, SD calculates the variation and the range calculates the difference between prices which doesn't provide a clear picture about the neighborhoods where you can afford a house.

User Prakash Panjwani
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