QUESTION 5 of 10: You are considering selling your home. You consult with an agent who gives you the asking prices of five homes compsin your area: $165,000, $188,000, $175,000, $150,000 and $400,000. The $400,000 is an outlier so you will not include it in your evaluation. Indetermining a reasonable asking price, what is the mean of the four remaining comps?a $188,000b $215,000Oc $169,500d $175,000
Accepted Solution
A:
Answer: $169,500The mean simply means the average price of a set of a numbers that are given. For one t calculate the mean, one has to add the numbers that are given and then divide them by the amount of numbers.I'm the case above, the numbers given are $165,000, $188,000, $175,000, and $150,000. Mean = ($165,000 ,+ $188,000 +$175,000 + $150,000) ÷ 4= $678,000/4= $169,500