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by moneyman » Tue Apr 29, 2008 7:52 am
There are 15 homes with an average of 150000 per home. From this we can conclude that the total amount is 15*150000=2250000

Median is 130000
Mean is 150000

(1) One of the homes must be above 165000 (TRUE) because when the median is 130000 lets assume that there are 8 homes which cost 130000 then the total of that would be 1040000 . So, the rest of the 7 houses above the median should total up to the balance (2250000-1040000=1210000). This will be possible only if atleast one of the houses is above 165000.

(2) and (3) need not be true as without them also all the conditions would be satisfied.
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