Find all School-related info fast with the new School-Specific MBA Forum

 It is currently 31 May 2016, 04:17

### GMAT Club Daily Prep

#### Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

# Events & Promotions

###### Events & Promotions in June
Open Detailed Calendar

# Last month 15 homes were sold in town X. The average

Author Message
Manager
Joined: 14 Nov 2005
Posts: 65
Followers: 1

Kudos [?]: 0 [0], given: 0

Last month 15 homes were sold in town X. The average [#permalink]

### Show Tags

30 Jan 2006, 23:42
00:00

Difficulty:

(N/A)

Question Stats:

100% (04:23) correct 0% (00:00) wrong based on 1 sessions

### HideShow timer Statistics

This topic is locked. If you want to discuss this question please re-post it in the respective forum.

Last month 15 homes were sold in town X. The average (arithmetic mean) sale price of the homes was $150,000 and the median sale price was$130,000. Which of the following statements must be true?

I. At least one of the homes was sold for more than $165,000 II. At least one of the homes was sold for more than$130,000 and less than $150,000 III. At least one of the homes was sold for less than$130,000

A. I only
B. II only
C. III only
D. I and II
E. I and III
Manager
Joined: 31 Jan 2005
Posts: 143
Followers: 1

Kudos [?]: 1 [0], given: 0

### Show Tags

31 Jan 2006, 00:47
lhotseface wrote:
E.
I and III.

_________________

"Nothing is Impossible"

VP
Joined: 20 Sep 2005
Posts: 1021
Followers: 3

Kudos [?]: 32 [0], given: 0

### Show Tags

31 Jan 2006, 00:50
15 numbers....middle number is 130000. Numbers have to be greater than less than the median for 130000 to be the median.

Average could be 150000 but still there can't be any number b/w 130000 and 150000 if the smaller numbers below the median are really LOW and the larger numbers above the median are really HIGH.
Intern
Joined: 07 Jan 2006
Posts: 49
Followers: 0

Kudos [?]: 4 [0], given: 0

### Show Tags

31 Jan 2006, 01:01
E. I & III

Median - Middle Number
Mean - Average

I is true because...

15 x 150,000 = 2,250,000
2,250,000 - (130,000)(8) = 1,210,000

Assume that the 7 numbers below the median are all equal to the median (the highest number they can get), which is 130,000.

1,210,000/7 = 172,857.142857 <- The average of the 7 houses above the median, which indicates at least 1 house will have the price of 172,857.142857.

II is not true because we may have real small numbers and real big numbers not in that interval.

III is true because there are numbers above or below the Median.
CEO
Joined: 20 Nov 2005
Posts: 2911
Schools: Completed at SAID BUSINESS SCHOOL, OXFORD - Class of 2008
Followers: 21

Kudos [?]: 197 [0], given: 0

### Show Tags

31 Jan 2006, 01:59
Almost sure for A.

Will explain if correct.
_________________

SAID BUSINESS SCHOOL, OXFORD - MBA CLASS OF 2008

Manager
Joined: 15 Aug 2005
Posts: 199
Location: New York
Followers: 1

Kudos [?]: 2 [0], given: 0

### Show Tags

31 Jan 2006, 08:09
If the first eight houses were all sold at the price of $130,000, the median will be this$130,000.

It is A
VP
Joined: 21 Sep 2003
Posts: 1065
Location: USA
Followers: 3

Kudos [?]: 56 [0], given: 0

### Show Tags

31 Jan 2006, 09:10
celiaXDN wrote:
If the first eight houses were all sold at the price of $130,000, the median will be this$130,000.

It is A

That's the perfect reasoning! That's why III is not necessarily true. So only A must be true.
_________________

"To dream anything that you want to dream, that is the beauty of the human mind. To do anything that you want to do, that is the strength of the human will. To trust yourself, to test your limits, that is the courage to succeed."

- Bernard Edmonds

Manager
Joined: 31 Jan 2005
Posts: 143
Followers: 1

Kudos [?]: 1 [0], given: 0

### Show Tags

31 Jan 2006, 13:50
good question

ffgmat wats the source ?????????
_________________

"Nothing is Impossible"

Intern
Joined: 07 Jan 2006
Posts: 49
Followers: 0

Kudos [?]: 4 [0], given: 0

### Show Tags

31 Jan 2006, 23:46
Hmm.. I actually did my reasonings correctly for Part I but failed at Part III. My reasoning for Part I contradicts Part III xD

Manager
Joined: 14 Nov 2005
Posts: 65
Followers: 1

Kudos [?]: 0 [0], given: 0

### Show Tags

01 Feb 2006, 12:00
The answer is A. (from GMATPrep)

Thanks for explanation.
I am thinking this kind of questions will show in the test date? So difficult.
Manager
Joined: 31 Jan 2005
Posts: 143
Followers: 1

Kudos [?]: 1 [0], given: 0

### Show Tags

01 Feb 2006, 12:14
really a tuff one.....was this in gmatprep test or the DS qestion excercise ?
_________________

"Nothing is Impossible"

Display posts from previous: Sort by