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# homes

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VP
Joined: 18 May 2008
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homes [#permalink]

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09 Feb 2009, 00:11
This topic is locked. If you want to discuss this question please re-post it in the respective forum.

Pls explain ur answer
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Manager
Joined: 27 May 2008
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Re: homes [#permalink]

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09 Feb 2009, 02:38
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ritula wrote:
Pls explain ur answer

1 only

Total - 15
Average - 150K
median 130K

Median = 130K So for understanding we will divide the number 15 as

first 7 ---- 8 ---- last 7

8th house is 130K(since median)
to get the max. price of last 7 houses, letz take the price of first 7 house as 130K.

So total Sum = 15*150K
Sum of first 8 houses = 8*130K

So total - sum of first 8 = sum of last 7 and average will give avg. price if last 8
2250K - 1040K = 1210K/7 ~ 173.9K

which means aleast 1 house will cost more than 165K.

2) Atleast 1 house is sold b/w 130k and 150k,
well, certainly we can say that. But may or may not be.
from above explanation.. it can be said all last 7 houses can cost ~ 173.9K

3) atleast one house is sold for <130K
well, certainly we can say that. But may or may not be.
from above explanation.. it can be said all first 7 houses can cost 130K

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Re: homes   [#permalink] 09 Feb 2009, 02:38
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# homes

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