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The median roughly rental income of a commercial real estate

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The median roughly rental income of a commercial real estate  [#permalink]

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New post 07 Apr 2019, 21:58
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Question Stats:

71% (00:57) correct 29% (01:31) wrong based on 31 sessions

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The median roughly rental income of a commercial real estate property with 17 different stores is $5,000. If the average rental income increases by 20% in the next month, what will be the median rental income in the real estate property be next month?
(A) $5,000
(B) $5,500
(C) $6,000
(D) $6,500
(E) it cannot be determined from given information

Source: Barron's

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Re: The median roughly rental income of a commercial real estate  [#permalink]

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New post 08 Apr 2019, 08:11
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nm97 wrote:
The median roughly rental income of a commercial real estate property with 17 different stores is $5,000. If the average rental income increases by 20% in the next month, what will be the median rental income in the real estate property be next month?
(A) $5,000
(B) $5,500
(C) $6,000
(D) $6,500
(E) it cannot be determined from given information

Source: Barron's

Posted from my mobile device


The median is the middle value .. In 17 numbers, the (17+1)/2 or 9th is the middle number.
However, it is not necessary that the average is the median. Only in case of evenly spaced numbers, that is an Arithmetic Progression, the median and average are same.

Thus an increase in average of 20% does not necessarily mean that the increase has been 20% across the stores. It may actually have decreased in some, and increased by 100% in other, resulting in an overall increase of 20%.

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Re: The median roughly rental income of a commercial real estate   [#permalink] 08 Apr 2019, 08:11
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The median roughly rental income of a commercial real estate

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