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Sajjad1994
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Saad225

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How to do the question 3 quickly?
­Maybe count the number of values above 2000 and below;

for one: you have only 2 values above 2000
for the other 50% of the values are above;

--> that must help going faster I think
but why 2000 thou? The problem with question 3, regarding time consumption, is the fact that we need to calculate the average value of two different categories.­
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Official Explanation

Statement 1: Fifteen of the 16 pieces sold. The eighth highest sale price is the median of the set of sale prices. This price is $1800.

Answer: No

Statement 2: The probability that a piece by Masterson sold for more than $2000 is 33%, but that’s not what the question is asking. Five pieces in total sold for more than $2000, and two of them were by Masterson, so the probability is 2 out of 5, or 40%.

Answer: No

Statement 3: This will take some doing, since there’s no neat way to sort the table in order to get all the canvas and paper works grouped neatly together. It is also not easy to eyeball the table and judge whether paper or canvas works had a higher average sale price so you should calculate the actual averages. Sorting by material helps a little. Six pieces were on canvas. Their average sale price was:

\(\frac{1400+1700+1900+2500+2100+2300}{6}=1983.33$\)

Answer: Yes
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Similar to what someone asked above, how do we do the 3rd part quickly?
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Similar to what someone asked above, how do we do the 3rd part quickly?
The averages for works on canvas and on paper come out pretty close to each other (1980 and 1840), so here you need to actually calculate the averages and compare.
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One observation based intuitive method which takes less time

Canvas there are two sets of data points

+ Acrylic Paint on Canvas 2500, 1900, 1700, 1400 ---> This avg will be close to 1800, how to judge ?

data points 1700 and 1400 will have an avg in between lets say ~1500 and data point of 2500 and 1900 will have an avg of say ~2200 ---> so overall avg of this set will (if you compare ~1500 and ~2200) will be say ~1700

Next set of canvas - Oil on Canvas 2300, 2100 ---> this ll have an average of say ~2200

So if you compare ~1700 and ~2200 the overall avg will be higher than 1700 i.e. it can be close to ~1800

Paper

+ Ink on Paper - 1400, 1400, 1300 ---> avg will be close to ~ 1380
+ Ink on Paper - 2200, 1900, 1600 ---> avg will be close to ~1800

Overall average for paper will be lower than 1800 i.e. it ll be close to say ~1500 or ~1600 since 1380 will drag the avg down

So it can be said that the avg will of canvas will be higher
This is not a full proof method but adding values and finding avg will take time and difficult to do in 2.5 mins

Let me know if this was helpful or if you have any better way.
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