Four comparables produce adjusted indications of $288,000, $296,000, $303,000 and $316,000. What range do they bracket?
Correct Answer
B) $288,000 to $316,000
Why this is correct: the bracketed range runs from the lowest adjusted indication to the highest. Why the other choices are wrong: $296,000 to $303,000 is the range of the middle two and discards the outer evidence; the mean of $300,750 and the median of $299,500 are single figures, and a range is what was asked for.
Why This Is the Correct Answer
Why this is correct: the bracketed range runs from the lowest adjusted indication to the highest. Why the other choices are wrong: $296,000 to $303,000 is the range of the middle two and discards the outer evidence; the mean of $300,750 and the median of $299,500 are single figures, and a range is what was asked for.
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