It is currently 23 Jun 2017, 05:39

### 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

# Average Sale Price

Author Message
Manager
Joined: 21 Feb 2009
Posts: 106

### Show Tags

27 Jul 2009, 14:17
00:00

Difficulty:

(N/A)

Question Stats:

0% (00:00) correct 0% (00:00) wrong based on 0 sessions

### HideShow timer Statistics

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

Question from GMATPREP
Attachments

Average Salary.jpg [ 69.2 KiB | Viewed 975 times ]

Senior Manager
Joined: 17 Jul 2009
Posts: 286
Concentration: Nonprofit, Strategy
GPA: 3.42
WE: Engineering (Computer Hardware)

### Show Tags

27 Jul 2009, 16:26
E, 1 and 3, take, for example, since the median is 130000 and mean is 150000, to balance it out, the prices has to be higher than than 150000 + 20000 > 165000, the same goes for the price being less than 130000
Manager
Joined: 21 Jun 2009
Posts: 154

### Show Tags

27 Jul 2009, 16:36
1
KUDOS
IMO A (I only)

Given: N= 15, mean = 150,000 and median = 130,000

1) at least one home sold for ?165,000

Lets say the prices are as follow:
a, b, c, d, e, f, 130000, g ,h, i, j, k, l

This means that the first 8 prices were <= 130,000 and the next 7 items averages to be around 173,000. This is because even if we consider a,b, c,d,e,f to be all worth 130,000, total = 1,040,000. For average to hold as 150,000 the rest of the 7 prices have to have a total of 2,250,000 (average of 173,000). Thus, at least one home needs to be >165,000 for sure/.

2)at least 1 between 130,000 and 150,000 - not necessarily. Especially without knowing any of the other prices, which can be combined in verious ways to get a average of 150,000 without having any # between 130,000 and 150,000.

3)at least one sold for less than 130,000 - not necessarily. All of the first 7 prices of homes can be 130,000 and not (<130,000)

What is the OA??
Director
Joined: 05 Jun 2009
Posts: 818
WE 1: 7years (Financial Services - Consultant, BA)

### Show Tags

28 Jul 2009, 00:14
IMO A

case:
130*8, x*7 ==> x>165 (min. possible value is x)
1 true
2 not necessary
3 not necessary
_________________

Consider kudos for the good post ...
My debrief : http://gmatclub.com/forum/journey-670-to-720-q50-v36-long-85083.html

Manager
Joined: 03 Jul 2009
Posts: 106
Location: Brazil

### Show Tags

28 Jul 2009, 14:02
Well explained whatthehell. I did the same procedure. +1
Manager
Joined: 21 Jun 2009
Posts: 154

### Show Tags

28 Jul 2009, 15:49
1
KUDOS
got my first kudos. Thanks!
Re: Average Sale Price   [#permalink] 28 Jul 2009, 15:49
Display posts from previous: Sort by