$150,000 - 2
$220,000 - 4
$490,000 - 3
$540,000 - 2
$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 arrange the values in ascending order:
$150,000 - 2
$220,000 - 4
$490,000 - 3
$540,000 - 2
$800,000 - 5
$975,000 - 2
Arranged in ascending order:
$150,000 - 2
$220,000 - 2
$490,000 - 2
$540,000 - 3
$800,000 - 4
$975,000 - 5
To find the median, we look for the middle number or the average of the two middle numbers if there is an even number of values.
In this case, there are 18 values, which is an even number. The two middle values are the 9th and 10th values: $540,000 and $800,000.
The median value of these houses is the average of $540,000 and $800,000:
Median = ($540,000 + $800,000) / 2 = $1,340,000 / 2 = $670,000.
Therefore, the median value of these houses is $670,000.