Question

The mean and median sales prices of new homes sold in the U.S. in November 2010 were $213,000 and $268,000. Which of these numbers is the mean and which is the median? Explain how you know.


I'm assuming the median is $213,000 and the mean is $268,000. However, I'm just guessing. I'm not sure how to know this without data.

Answer 1

I would say you are correct! Outliers can skew the mean higher; thus the mean will be higher than the median.

Answer 2

Outliers could also skew the mean lower as well.