AnswersPBCSD_Grade_Forgiveness_1207350_Mathematics_for_College_Liberal_Arts_S2_2023Introduction to Statistics — Unit testQuestion 11
11
QuizMultiple Choice

Introduction to Statistics — Unit test

Question 11 • PBCSD_Grade_Forgiveness_1207350_Mathematics_for_College_Liberal_Arts_S2_2023

Joe is interested in the prices of homes sold in his area. He found a list of the selling prices of 50 homes for the past month. Most of the homes sold for $100,000–$350,000, but there were a few that sold for more than $1,000,000. Which of the following statements is true about the mean and median selling price for the 50 homes?

Answer
A
The mean and median are equal.
B
The mean is less than the median.
C
The mean is greater than the median.
D
The actual selling prices are needed to determine this.

Explanation

The few homes selling for more than $1,000,000 are much higher than the prices of most homes, so they pull the mean upward. The median is the middle value in the ordered list and is less affected by a few unusually high prices. Therefore, the mean is greater than the median.

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