Houses in a certain area in a big city have a mean price of PhP4,000,000 but amedian price is only PhP2,500,000. How might you explain this best?
Question
Solution 1
The discrepancy between the mean and median house prices in this area can be explained by the presence of a few very high-priced houses.
- The mean, or average, is calculated by adding up all the house prices and dividing by the number of houses. This means that a few very high-priced houses can Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
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