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The 10 households on a certain street have household incomes that rang

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The 10 households on a certain street have household incomes that rang  [#permalink]

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New post Updated on: 31 Oct 2018, 22:24
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A
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C
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Difficulty:

  15% (low)

Question Stats:

86% (01:40) correct 14% (02:09) wrong based on 43 sessions

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The 10 households on a certain street have household incomes that range from $34000 to $150000 and an average(arithmetic mean) household income of $60000. If the household with the highest income and the one with the lowest income and the one with the lowest income are excluded, what is the average household income for the remaining 8 households?

A. $41000
B. $47000
C. $52000
D. $61000
E. $75000

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Originally posted by pushpitkc on 31 Oct 2018, 21:39.
Last edited by Bunuel on 31 Oct 2018, 22:24, edited 1 time in total.
EDITED.
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Re: The 10 households on a certain street have household incomes that rang  [#permalink]

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New post 31 Oct 2018, 21:59
pushpitkc wrote:
The 10 households on a certain street have household incomes that range from $34000 to $150000
and an average(arithmetic mean) household income of $60000. If the household with the highest
income and the one with the lowest income and the one with the lowest income are excluded, what
is the average household income for the remaining 8 households?

A. $41000
B. $47000
C. $52000
D. $61000
E. $75000


Total Income of all 10 houses = Average income * 10 = 60000*10 = 600,000

Highest Income = 150,000
Lowest Income = 34,000

Incomes of remaining household after highest and lowest income houses are removed = 600,000 - 150,000 - 34,000 = 416,000

Average of remaining 8 households = 420,000 / 8 = 52000

Answer: Option C
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Re: The 10 households on a certain street have household incomes that rang  [#permalink]

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New post 31 Oct 2018, 22:18
pushpitkc wrote:
The 10 households on a certain street have household incomes that range from $34000 to $150000
and an average(arithmetic mean) household income of $60000. If the household with the highest
income and the one with the lowest income and the one with the lowest income are excluded, what
is the average household income for the remaining 8 households?

A. $41000
B. $47000
C. $52000
D. $61000
E. $75000


All numbers in thousands.. so assume K=1000.
Range of income : 34K to 150K
Total income: 600K
Lowest + Highest Income = 34+ 150= 184K
Remaining income of 8 household: 600-184= 416K
Avg= 416/8 =52K

Answer C.
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Re: The 10 households on a certain street have household incomes that rang  [#permalink]

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New post 01 Nov 2018, 10:19
The 10 households on a certain street have household incomes that range from $34000 to $150000 and an average(arithmetic mean) household income of $60000. If the household with the highest income and the one with the lowest income and the one with the lowest income are excluded, what is the average household income for the remaining 8 households?

A. $41000
B. $47000
C. $52000
D. $61000
E. $75000

First find the total of the 10 houses how much they cost in total

$60000*10= total cost
highest + lowest = $34000 + $150000= 184000

Subtract 6*10^5-184*10^3= 416*10^3

Divide 416*10^3/8 to find avg i,e $ 52000 option C
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Re: The 10 households on a certain street have household incomes that rang  [#permalink]

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New post 04 Nov 2018, 18:05
pushpitkc wrote:
The 10 households on a certain street have household incomes that range from $34000 to $150000 and an average(arithmetic mean) household income of $60000. If the household with the highest income and the one with the lowest income and the one with the lowest income are excluded, what is the average household income for the remaining 8 households?

A. $41000
B. $47000
C. $52000
D. $61000
E. $75000


The sum of the 10 incomes is 60,000 x 10 = 600,000. Subtracting out the lowest and highest income we are left with:

600,000 - 34,000 - 150,000 = 416,000 for an average of 416,000/8 = 52,000

Answer: C
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Re: The 10 households on a certain street have household incomes that rang   [#permalink] 04 Nov 2018, 18:05
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