Question

Sunny works as an assistant to a real estate agent. she prepares a price comparison for a client thinking of selling a house. sunny investigates the list prices and sale prices of comparable houses that have recently sold in nearby neighbourhoods.

house 1:
list price: $324 500
sale price: $315 000

house 2:
list price: $379 000
sale price: $370 000

house 3:
list price: $299 000
sale price: $295 000

a) determine the mean and median list and sale prices and the price ranges.
b) which measure would you use for estimating what the client's house might sell for? explain you choice.

Answer 1

I made a mistake for house 3, I put $299000 in the post above, it is not $299000, it is actually $299900

Answer 2

First, I'll tell you what mean is. It is when you take the sum of your numbers and divide it by the quantity of numbers. So, a+b+c=d. d/3= the mean. Try it out and post what you got. I'm sure you can figure this out on your own.