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26 Sep 2024, 11:10
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Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
(N/A)
Question Stats:
50% (00:48) correct
50% (00:18) wrong based on 6 sessions
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Which of the following is closest to the mean of the prices of the 700 homes sold in 2012 and 2013 combined?
A. $265,000
B. $270,000
C. $275,000
D. $280,000
E. $285,000
Attachment:
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08 Dec 2024, 04:43
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OE
The number of homes sold is given in the table, and the mean of the prices is given in the line graph. The mean price of the 700 homes sold in 2012 and 2013 is the weighted average of the mean price of the 410 homes sold in 2012, which is $250,000, and the mean price of the 290 homes sold in 2013, which is $300,000:
\(\frac{(410)($250,000) + (290)($300,000) }{700} ≈ $270,714\) Of the choices given, the closest is $270,000.
The correct answer is Choice B.
The number of homes sold is given in the table, and the mean of the prices is given in the line graph. The mean price of the 700 homes sold in 2012 and 2013 is the weighted average of the mean price of the 410 homes sold in 2012, which is $250,000, and the mean price of the 290 homes sold in 2013, which is $300,000:
\(\frac{(410)($250,000) + (290)($300,000) }{700} ≈ $270,714\) Of the choices given, the closest is $270,000.
The correct answer is Choice B.
