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18 Sep 2007, 22:24
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Can someone explain their methodology on this question?
thank you
thank you
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18 Sep 2007, 23:39
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Ans is A.
Average=Sum/#
#=15
A= 150,000.
15*150,000=2,250,000 = Sum.
Since 130,000 is the middle number it must also be 8 in the number of houses sold.
ex/ 1,2,3,4,5,6,7,8,9,10,11,12,13,14,15. There are 7 numbers on each side of 8. Also note that 15 is odd so the middle number is going to be an integer.
So since 130,000 is the median. Then the highest value of these 8 houses could be 130,000*8 or 130*8 to save time. = 1040 which is going to be 1,040,000 Subtract 1040 from 2250. = 1210. Now divide 1210 by 7. first two digist are 17... stop u know it is greater than 165. So S1 is True.
S2: We just proved that this DOES not have to be true. b/c all 8 houses could be 130 and the houses above 8 could be 17... whatever this number is. (171,427, but no need to calculate this)
S3: Again we just proved that this DOES not have to be true. It is entirely possible that this is true, but the question is asking for what MUST BE true.
Average=Sum/#
#=15
A= 150,000.
15*150,000=2,250,000 = Sum.
Since 130,000 is the middle number it must also be 8 in the number of houses sold.
ex/ 1,2,3,4,5,6,7,8,9,10,11,12,13,14,15. There are 7 numbers on each side of 8. Also note that 15 is odd so the middle number is going to be an integer.
So since 130,000 is the median. Then the highest value of these 8 houses could be 130,000*8 or 130*8 to save time. = 1040 which is going to be 1,040,000 Subtract 1040 from 2250. = 1210. Now divide 1210 by 7. first two digist are 17... stop u know it is greater than 165. So S1 is True.
S2: We just proved that this DOES not have to be true. b/c all 8 houses could be 130 and the houses above 8 could be 17... whatever this number is. (171,427, but no need to calculate this)
S3: Again we just proved that this DOES not have to be true. It is entirely possible that this is true, but the question is asking for what MUST BE true.
18 Sep 2007, 23:42
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ericuva
Since the mean is 150K and number of houses sold is 15, the total of all prices is 15 * 150K = 2,250,000.
Let's assume that 8 homes were sold for 130K for a total of 8 * 130,000 = 1,040,000. This means that the total of the remaining 7 houses is equal to 2,250,000 - 1,040,000 = 1,210,000
Therefore, the avg. price per house (for the remaining 7 houses) is equal to 1,210,000/7 = ~ 172,800
Hence only I is true. II & III may be true if we use other values, but they don't have to be true.
Archived Topic
Hi there,
This topic has been closed and archived due to inactivity or violation of community quality standards. No more replies are possible here.
Where to now? Join ongoing discussions on thousands of quality questions in our Quantitative Questions Forum
Still interested in this question? Check out the "Best Topics" block above for a better discussion on this exact question, as well as several more related questions.
Thank you for understanding, and happy exploring!
