NightAlum wrote:

sondenso wrote:

Last month 15 homes were sold in town X. the average sale price of he homes was 150000$ and the median sale price was 130000$. Which of the following statements must be true?

I. At least one of the homes was sold for more than 165000

II. At least one of the homes was sold for more than 130000 and less than 150000

III. At least one of the homes was sold for less than 130000

I only

II only

III only

I and II

I and III

Answer A (I think)

I. We are looking to prove that no home was sold for more than 165K otherwise the statement holds true. Bearing in mind that mean = 150K --> 8/15*(150K-130K) = 7/15 (X-150K); find x to equal 172.9. Yes, at least one of the homes sold for more than 165K

II. From I: Can be either way

III. Can be either way

I don't think your answer is correct. My answer is I and III.

III is correct, obviously. Because the definition of median is the "middle" value in the list of numbers. Given that median is 130000, there should be 7 numbers which are smaller than 130000. Thus statement 3 is correct.