Use the table to answer the question.

Question

Number of Houses Across Different Property Value Ranges
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 in each range.

From the table, we have the following values and counts:

• $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, we will list each value according to the number of houses:

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

Now, combining all these values gives us the following list of 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

This results in the following ordered listings:

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

We can count that there are 18 values in total.

To find the median:

• The median is the average of the 9th and 10th values in an ordered list of 18 numbers.

Looking at our ordered list:

• The 9th value (middle value from the lower half) is $490,000.
• The 10th value (middle value from the upper half) is $540,000.

Now, we calculate the median: \[ \text{Median} = \frac{490,000 + 540,000}{2} = \frac{1,030,000}{2} = 515,000 \]

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