In a sample of 61 households, one house is worth $2,500,000. Half of the rest are worth $280,000, and all the others are worth $315,000. Which is the better measure of the "center": the mean or the median? The Click for List is the better measure of the "center".

In a sample of 61 households, one house is worth $2,500,000. Half of the rest are worth $280,000, and all the others are worth $315,000. Which is the better measure of the "center": the mean or the median? The Click for List is the better measure of the "center".

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Question

In a sample of 61 households, one house is worth $2,500,000. Half of the rest are worth $280,000, and
all the others are worth $315,000. Which is the better measure of the "center": the mean or the median?
The
Click for List
is the better measure of the "center".

Expert Solution

Step 1: Given information

A sample of 61 is taken.

One house is worth $25,00,000.

Half of the rest ( 30 ) are worth $2,80,000

All others (30) are worth $3,15,000.

Want to comment on which measure of central tendency is better.

Step by step

Solved in 3 steps

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