Use the table to answer the question.

Question

This table presents the number of houses corresponding to different property values, showing the distribution of home prices in a given dataset.
Value per House Number of Houses
$150,000
2
$220,000
4
$490,000
3
$540,000
2
$800,000
5
$975,000
2
The values of several houses on Mango Street are displayed on the table. What is the median value of these houses?


(1 point)
$

Answer 1

To find the median value of the houses, we first need to list all the house values according to the number of houses at each corresponding value:

• $150,000 (2 houses)
• $220,000 (4 houses)
• $490,000 (3 houses)
• $540,000 (2 houses)
• $800,000 (5 houses)
• $975,000 (2 houses)

Now, let's list the values:

• $150,000, $150,000
• $220,000, $220,000, $220,000, $220,000
• $490,000, $490,000, $490,000
• $540,000, $540,000
• $800,000, $800,000, $800,000, $800,000, $800,000
• $975,000, $975,000

Now, counting all the houses, we get:

2 (from $150,000) + 4 (from $220,000) + 3 (from $490,000) + 2 (from $540,000) + 5 (from $800,000) + 2 (from $975,000) = 18 houses.

To find the median, we need to locate the middle value(s). Since there are 18 houses (an even number), the median will be the average of the 9th and 10th values when arranged in order.

Listing the values again:

1. $150,000
2. $150,000
3. $220,000
4. $220,000
5. $220,000
6. $220,000
7. $490,000
8. $490,000
9. $490,000
10. $540,000
11. $540,000
12. $800,000
13. $800,000
14. $800,000
15. $800,000
16. $800,000
17. $975,000
18. $975,000

The 9th value is $490,000 and the 10th value is $540,000.

Now, we calculate the median:

\[ \text{Median} = \frac{490,000 + 540,000}{2} = \frac{1,030,000}{2} = 515,000 \]

Thus, the median value of the houses is $515,000.