The values of several houses on Mango Street are displayed on the table. What is the median value of these houses?
Value per House Number of Houses
$150,000 2
$220,000 4
$490,000 3
$540,000 2
$800,000 5
$975,000 2
To find the median value, we first need to arrange the values in ascending order:
$150,000, $150,000, $220,000, $220,000, $220,000, $220,000, $490,000, $490,000, $490,000, $540,000, $540,000, $800,000, $800,000, $800,000, $800,000, $800,000, $975,000, $975,000
Since there are 18 values, the median will be the average of the 9th and 10th value in this list.
The 9th value is $490,000 and the 10th value is $540,000.
Therefore, the median value of these houses is ($490,000 + $540,000) / 2 = $515,000.