Question

home prices in a neighborhood vary every year. in 2021, the following nine home prices were listed. (in thousands)

H 120 166 173 H H H 123 127 L

Where L indicates a Home below $110 and H indicates a Home above $190. The median home price is:

A) 166
B) 169.5
C) 170
D) 173
E) Cannot be determined

Answer 1

Based on the prices of the homes in the neighborhood, the median home price is A) 166

What is the median home price?

L is for a home below $110 and H is for a home above $190. The distribution of home prices can therefore be shown as:
190, 120, 166, 173, 190, 190, 190, 123, 127, 110

In an ordered list, this becomes:

= 110, 120, 123, 127, 166, 173, 190, 190, 190

The median is the price in the middle and we can see this price is $166

In conclusion, the median home price is $166.

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