Use the table to answer the question.
Value per house Number of houses
$150,000 2
$220,000 4
$490,000 3
$800,000 5
$975,000 2
The values of several houses on Mango Street are displayed on the table. What is the median value of these houses?
To find the median value, we need to list the values in order from least to greatest.
$150,000, $220,000, $490,000, $800,000, $975,000
There are a total of 16 houses. Since 16 is an even number, we need to find the average of the two middle values (the eighth and ninth values).
The eighth value is $490,000 and the ninth value is $800,000.
The average of $490,000 and $800,000 is:
($490,000 + $800,000) / 2 = $645,000
Therefore, the median value of these houses is $645,000.
To find the median value of the houses, we need to arrange the values in ascending order:
$150,000, $220,000, $490,000, $800,000, $975,000
Since there are 5 values, the median value will be the middle value. In this case, the median value will be the third value, which is $490,000.
Therefore, the median value of the houses on Mango Street is $490,000.