Days on market for recent sales are 15, 22, 28, 35 and 120. Which figure best describes typical marketing time?
Correct Answer
D) The median of 28 days across the five sales
Why this is correct: The median (28 days) is the middle value when data are ordered, unaffected by the outlier (120 days), so it best represents typical marketing time. Why the other choices are wrong: "The mean of 44 days across the five sales" is skewed by the outlier, overstating typical time. "The range of 105 days between the extremes" shows spread, not typical value. "The mode, since no value repeats in the set" is inapplicable; mode requires repeating values. Exam tip: Use median for typical value when data have outliers; mean is sensitive to extremes.
Why This Is the Correct Answer
Why this is correct: The median (28 days) is the middle value when data are ordered, unaffected by the outlier (120 days), so it best represents typical marketing time. Why the other choices are wrong: "The mean of 44 days across the five sales" is skewed by the outlier, overstating typical time. "The range of 105 days between the extremes" shows spread, not typical value. "The mode, since no value repeats in the set" is inapplicable; mode requires repeating values. Exam tip: Use median for typical value when data have outliers; mean is sensitive to extremes.
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