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A certain builder is selling five homes for the following

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skamal7
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A certain builder is selling five homes for the following [#permalink] A certain builder is selling five homes for the following   29 Jul 2013, 06:03
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A certain builder is selling five homes for the following prices: $157,000, $168,000, $195,000, $235,000, and $256,000. If the price of the most expensive home is increased $10,000, which of the following statements best describes the change in the mean and the median of the home prices?

(A) The mean and the median will remain unchanged.
(B) The mean will remain unchanged but the median will increase.
(C) The mean will increase but the median will remain unchanged.
(D) The mean and the median will increase by the same amount.
(E) The mean and the median will increase by different amounts.
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Re: A certain builder is selling five homes for the following [#permalink] A certain builder is selling five homes for the following   29 Jul 2013, 06:08
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skamal7
A certain builder is selling five homes for the following prices: $157,000, $168,000, $195,000, $235,000, and $256,000. If the price of the most expensive home is increased $10,000, which of the following statements best describes the change in the mean and the median of the home prices?

(A) The mean and the median will remain unchanged.
(B) The mean will remain unchanged but the median will increase.
(C) The mean will increase but the median will remain unchanged.
(D) The mean and the median will increase by the same amount.
(E) The mean and the median will increase by different amounts.

Old set = {157, 168, 195, 235, 256}.

New set = {157, 168, 195, 235, 266} --> the median (middle term) will remain the same and the mean will increase.

Answer: C.
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A certain builder is selling five homes for the following [#permalink] A certain builder is selling five homes for the following   15 Nov 2017, 05:49
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skamal7
A certain builder is selling five homes for the following prices: $157,000, $168,000, $195,000, $235,000, and $256,000. If the price of the most expensive home is increased $10,000, which of the following statements best describes the change in the mean and the median of the home prices?

(A) The mean and the median will remain unchanged.
(B) The mean will remain unchanged but the median will increase.
(C) The mean will increase but the median will remain unchanged.
(D) The mean and the median will increase by the same amount.
(E) The mean and the median will increase by different amounts.
If not sure: Use small numbers that follow the prompt's pattern, namely, five increasing values.

Pick numbers that sum to a multiple of 5, so that the mean is easy to find. Pick four numbers, add them, and have the fifth number (greater than all others) make the total sum = multiple of 5.

The houses sell for:

$1, $2, $3, $4, $10
Median: $3
Mean: \(\frac{$20}{5} = $4\)

The most expensive home increases by $5:
$1, $2, $3, $4, $15
Median: $3
Mean: \(\frac{$25}{5} = $5\)

Mean is increased, median is unchanged.

Answer C
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Re: A certain builder is selling five homes for the following [#permalink] A certain builder is selling five homes for the following   15 Nov 2017, 08:31
skamal7
A certain builder is selling five homes for the following prices: $157,000, $168,000, $195,000, $235,000, and $256,000. If the price of the most expensive home is increased $10,000, which of the following statements best describes the change in the mean and the median of the home prices?

(A) The mean and the median will remain unchanged.
(B) The mean will remain unchanged but the median will increase.
(C) The mean will increase but the median will remain unchanged.
(D) The mean and the median will increase by the same amount.
(E) The mean and the median will increase by different amounts.

No calculations required for this one as Median of 5 values will remain the same $195,000 , though the mean will increase, among the given options only (C) is correct!!
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A certain builder is selling five homes for the following [#permalink] A certain builder is selling five homes for the following   21 Jan 2020, 09:42
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skamal7
A certain builder is selling five homes for the following prices: $157,000, $168,000, $195,000, $235,000, and $256,000. If the price of the most expensive home is increased $10,000, which of the following statements best describes the change in the mean and the median of the home prices?

(A) The mean and the median will remain unchanged.
(B) The mean will remain unchanged but the median will increase.
(C) The mean will increase but the median will remain unchanged.
(D) The mean and the median will increase by the same amount.
(E) The mean and the median will increase by different amounts.

Original prices: {$157,000, $168,000, $195,000, $235,000, $256,000}

New prices: {$157,000, $168,000, $195,000, $235,000, $266,000}

If the price of the most expensive home is increased by 10,000 dollars, the mean will increase but the median will remain the same.

Answer: C
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Re: A certain builder is selling five homes for the following [#permalink] A certain builder is selling five homes for the following   18 Oct 2020, 09:51
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skamal7
A certain builder is selling five homes for the following prices: $157,000, $168,000, $195,000, $235,000, and $256,000. If the price of the most expensive home is increased $10,000, which of the following statements best describes the change in the mean and the median of the home prices?

(A) The mean and the median will remain unchanged.
(B) The mean will remain unchanged but the median will increase.
(C) The mean will increase but the median will remain unchanged.
(D) The mean and the median will increase by the same amount.
(E) The mean and the median will increase by different amounts.



The median is the middle value for a set of numbers arranged in ascending order.

The most expensive house will be a value after the median. Only the last value will change.

The mean will definitely change as the sum of the observations will increase.


Therefore the mean increases, but the median remains unchanged.


Option D

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Re: A certain builder is selling five homes for the following [#permalink] A certain builder is selling five homes for the following   21 Nov 2023, 10:01
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Re: A certain builder is selling five homes for the following [#permalink]
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