Four comparables produce adjusted indications of $298,000, $305,000, $311,000 and $330,000. What is the median indication?
Correct Answer
A) $308,000
Why this is correct: with four values the median is the average of the middle two. Calculation: ($305,000 + $311,000) ÷ 2 = $308,000. Why the other choices are wrong: $311,000 is the mean, which the $330,000 indication pulls upward by three thousand dollars; $298,000 and $330,000 are the extremes of the range rather than its center.
Why This Is the Correct Answer
Why this is correct: with four values the median is the average of the middle two. Calculation: ($305,000 + $311,000) ÷ 2 = $308,000. Why the other choices are wrong: $311,000 is the mean, which the $330,000 indication pulls upward by three thousand dollars; $298,000 and $330,000 are the extremes of the range rather than its center.
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