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# 15 homes

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Senior Manager
Joined: 12 Mar 2009
Posts: 307

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12 Jun 2009, 06:07
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27) Last month 15 homes were sold in Town X. The average sale price of the houses was $150,000 and the median sales price was$130,000. Which must be true?
At least 1 house sold for > $165,000 At least 1 house sold for >$130,000 but < $150,000 At least 1 home sold for <$130,000
a. I
b. II
c. III
d. I and II
e. I and III

Oa is a
Manager
Joined: 08 Feb 2009
Posts: 141
Schools: Anderson

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12 Jun 2009, 10:23
1
KUDOS
Assume one extreme scenario:

8 houses priced @ $130,000 $$\Rightarrow$$ Median =$130,000.

For the average of 15 houses to be $150,000 the sum of the rest of 7 houses should be (7 *$150,000 + 8 * 20,000) $$\Rightarrow$$ Average of rest of 7 houses $$\approx$$ $173,000. Only the first condition MUST BE TRUE. Answer A. Please do not post OA until you get a few replies. Intern Joined: 04 Mar 2008 Posts: 42 Re: 15 homes [#permalink] ### Show Tags 12 Jun 2009, 14:08 If the median price is 130K, it means at least one house is sold below that value which makes III as correct statement. I'll go with E. Manager Joined: 08 Feb 2009 Posts: 141 Schools: Anderson Re: 15 homes [#permalink] ### Show Tags 12 Jun 2009, 14:23 1 This post received KUDOS abhitheCEO wrote: If the median price is 130K, it means at least one house is sold below that value which makes III as correct statement. I'll go with E. I disagree. What if the lowest price home and the median price are both$130,000 ?
Intern
Joined: 04 Mar 2008
Posts: 42

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12 Jun 2009, 15:41
goldeneagle94 wrote:
abhitheCEO wrote:
If the median price is 130K, it means at least one house is sold below that value which makes III as correct statement.

I'll go with E.

I disagree.

What if the lowest price home and the median price are both \$130,000 ?

got it.
Re: 15 homes   [#permalink] 12 Jun 2009, 15:41
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