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Re: Last month 15 homes were offered in Town X. The average (arithmetic mean)<#permalink>
08 Dec 2020, 21:56
Last month 15 residences were offered in Tvery own X. The average (arithmetic mean) sale price of the houses was \$150,000 and also the median sale price was \$130,000. Which of the adhering to statements have to be true?I. At least among the homes was sold for more than \$165,000.II. At leastern among the dwellings was sold for even more than \$130,0000 and less than \$150,000III. At leastern among the residences was sold for much less than \$130,000.A. I onlyB. II onlyC. III onlyD. I and also IIE. I and III
15 houses were sold and median is 130k. This suggests if we put them all in increasing order, the 8th home was sold for 130k. So the initially seven residences were sold for a maximum of 130k and can be below that amount. Since mean is 150k, the various other 7 sales should comprise for the deficit of 8 * 20k = 160k. So if all 7 were sold for the same price, they would certainly have been sold for 160k/7 = 23k even more than 150k i.e. for around 173k each. So one possibility is130k, 130k, ... 130k, 173k, 173k, ... 173kI. At leastern among the homes was marketed for even more than \$165,000.Correct. To consist of for 160k, each of the 7 residences have to be offered for 173k. Here we are minimising the greatest sale value. So at least one home need to be marketed for even more than \$165k. II. At leastern one of the residences was marketed for even more than \$130,0000 and less than \$150,000Not essential. In our instance, we witnessed that we don"t must have a sale value in between this array.III. At leastern one of the houses was offered for much less than \$130,000.Not essential, again as we watch from our instance. Answer (A)_________________

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