Which measure of central tendency do you feel best represents the typical home price meeting those criteria? Why?

Instructions In Discussion:

Which measure of central tendency do you feel best represents the typical home price meeting those criteria? Why? Why are the measures of central tendency the same or different?

Post 2 Example:

NOTE: Not all parts of the Discussion are included in this Example. Read the Discussion Question thoroughly and respond to all parts of the Question.

Information from the classmate’s post: I need this done for the problem below

Home prices: $176,000 $186,000 $187,550 $189,999 $190,000 $194,900 $214,900 $320,000 $320,000 $404,500

Mean: $238,384.90 Median: $192,450 Mode: $320,000

I checked the calculations for mean, median and mode and they are correct.

When the home prices are put in order, the mode represents the 8 th and 9th most expensive home prices. Because of this, the mode can be ruled out as the “best” measure of central tendency since it falls well above the median and mean.

When comparing the median and the mean, we use the median when the data contains extreme scores. For the home prices listed here, there are three homes priced well above the others. This results in the mean being pulled higher. Because of this, the median would be the best measure of central tendency

PROBLEM: I need the answer to below

489,000     349,000

250,000     250,000

248,500     229,000  mean= 489,000+349,000+250,000+250,000+248,500+229,000+225,000+220,000+201,400+199,900/10=2,661,800/10= 266.180

The mean price of a house is $266,180

Median price: 199,900, 201,400, 220,000, 225,000, 229,000

248,500, 250,000, 250,000, 349,000, 489,000= 229,000+248,500=477,500/2

238,750

Mode is 250,000 – 2 houses the same