Central Tendency - House Sales
Not what you're looking for?
15.) In the last month, ten houses sold in a local town. The price of each sale:
$150,000
$1,100,000
$130,000
$130,000
$170,000
$160,000
$200,000
$130,000
$115,000
$800,000
a.) What is the mean, median, and mode of this data?
b.) Which measure gives you a better sense of the midpoint of the housing prices in this area, the mean or the median? Why?
Purchase this Solution
Solution Summary
This provides an example of finding mean, median, and mode, and explains which is the best sense of midpoint.
Solution Preview
We sort all data as follows:
$115,000, $130,000, $130,000, $130,000, $150,000, $160,000, $170,000, $200,000, $800,000, ...
Purchase this Solution
Free BrainMass Quizzes
Know Your Statistical Concepts
Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.
Measures of Central Tendency
This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.
Terms and Definitions for Statistics
This quiz covers basic terms and definitions of statistics.
Measures of Central Tendency
Tests knowledge of the three main measures of central tendency, including some simple calculation questions.