Solve the Problem A Find the Mean Price and Median Price for These

question 106

Essay

Solve the problem. Round monetary amounts to the nearest dollar.
-The table below gives the sale price of seven homes sold in the same neighborhood over a six month period. $$\begin{array} { l c } \hline \text { Home (address) } & \text { Price } \\\hline 100 \text { Willow Dr. } & \$ 301,000 \\215 \text { Pebble Ln. } & \$ 170,000 \\202 \text { Driftwood St. } & \$ 292,000 \\213 \text { Lilac Dr. } & \$ 315,000 \\154 \text { Dogwood Dr. } & \$ 513,000 \\303 \text { Ash St. } & \$ 287,000 \\222 \text { Cedar Ln. } & \$ 274,000 \\\hline\end{array}$$
a. Find the mean price and median price for these homes.
b. Which home is an outlier on the high end? If you eliminate this home, what are the new mean and median prices for
these homes?
c. Which home is an outlier on the low end? If you eliminate this home, what are the new mean and median prices for
these homes?
d. If you eliminate both outliers, what are the new mean and median prices for these homes?