Tom Is Trying to Summarize the Housing Values in His

question 16

Multiple Choice

Tom is trying to summarize the housing values in his neighborhood.There are ten houses in total which fall into the following value ranges: $$\begin{array} { lc } \hline \text { Value } & \text { Number of Houses } \\\hline \$ 200,000 \text { to } \$ 300,000 & 1 \\\$ 700,000 \text { to } \$ 800,000 & 3 \\\$ 800,001 \text { to } \$ 850,000 & 5 \\\text { Over } \$ 5,000,000 & 1\\\hline\end{array}$$ Which summary measure is most appropriate to summarize this data?

• A)mean
• B)median or mode

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Definitions:

Written Evidence

Documented proof or records that support claims or events, often used in legal and financial contexts.

Freight-Out

The cost associated with transporting goods from a warehouse to the customer, typically classified as a selling expense.

Operating Expenses

The costs related to the day-to-day operations of a business, excluding the cost of goods sold.

Appropriate Code Letter

A specific letter or abbreviation designated to represent a particular category or item in accounting or data classification.