The May 1, 2009, issue of a certain publication reported the following home sale amounts for a sample of homes in Alameda, CA that were sold the previous month (1,000s of $). 591 820 575 607 349 1,288 412 543 557 676 A button hyperlink to the SALT program that reads: Use SALT. (a) Calculate and interpret the sample mean and median. The sample mean is x

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10-05-2021
Mathematics

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The May 1, 2009, issue of a certain publication reported the following home sale amounts for a sample of homes in Alameda, CA that were sold the previous month (1,000s of $). 591 820 575 607 349 1,288 412 543 557 676 A button hyperlink to the SALT program that reads: Use SALT. (a) Calculate and interpret the sample mean and median. The sample mean is x

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ewomazinoade ewomazinoade · Answer 1 · 2021-09-01T15:56:35+02:00

The sample mean is $641.80 thousand and the sample median is $583 thousand.

This means that the average sale price for a home in this sample was $641.80 thousand and that half the sales were for less than the median price and price and half the sales were more than the median price.

Mean is the average of a set of numbers. It is determined by adding the numbers together and dividing it by the total number

Mean = sum of the numbers / total number

sum of the numbers = $ (591 + 820 + 575 + 607 + 349 + 1,288 + 412 + 543 + 557+ 676) = 6418

total number = 10

Mean = $6418 / 10 = $641.80

= $641.80 thousand

Median can be described as the number that occurs in the middle of a set of numbers that are arranged either in ascending or descending order

Arranging the prices in ascending order : 349, 412, 543, 557, 575, 591, 607, 676, 820, 1288

The two numbers in the middle of the set of numbers are 575 and 591

Median = (575 + 591) / 2 = $583

$583 thousand

To learn more about median, please check : https://brainly.com/question/300591?referrer=searchResults