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)
$
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Answer 1

To find the median value of the houses, we first need to list all the house values according to their frequency:

• $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 house 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 we'll count the total number of houses:

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

Total number of houses = 2 + 4 + 3 + 2 + 5 + 2 = 18 houses.

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

Here’s the ordered list of house values:

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

Now, the 9th and 10th values are $490,000 and $540,000.

To find 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.