If you were considering purchasing an average-priced home in a new community with home values ranging from $100,000 - $1,000,000, which of the following would give the most realistic picture of how much that home is likely to cost?
A) class interval
B) mean
C) median and mode
D) grouped data

Question

Quizplus · Accepted Answer

The median and mode are the best choices because they give a measure of central tendency that is not influenced by extreme values or outliers. The mean could be skewed by a few very high-priced homes, and class intervals and grouped data do not provide as much specific information about individual home prices.

If You Were Considering Purchasing an Average-Priced Home in a New