In a Summary of Recent Real Estate Sales, the Median

question 165

Short Answer

In a summary of recent real estate sales, the median home price is given as $325,000. What
percentile corresponds to a home price of $325,000?

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Definitions:

Empiricism

A theory in epistemology that states knowledge comes only or primarily from sensory experience.

Observations

The act of monitoring or recording systematically selected variables or behaviors in research to gather data.

Assumption

A statement taken for granted or accepted as true without proof, used as a basis for reasoning or argument.

Quantitative Research

A research method focusing on obtaining data that can be quantified and analyzed statistically to draw conclusions and test hypotheses.