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mandeepak: Senior | Next Rank: 100 Posts; Posts: 84; Joined: Thu Jan 18, 2007 10:28 pm; Thanked: 2 times

by mandeepak » Mon Oct 22, 2007 10:18 pm

Tom, Jane, and Sue each purchased a new house. The average (arithmetic mean) price of
the three houses was $120,000. What was the median price of the three houses?
(1) The price of Tom’s house was $110,000.
(2) The price of Jane’s house was $120,000.
A. Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.
B. Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.
C.
BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is
sufficient.
EACH statement ALONE is sufficient.
D.
E. Statements (1) and (2) TOGETHER are NOT sufficient.

Source: Beat The GMAT — Data Sufficiency | Mon Oct 22, 2007 10:18 pm

mschling52: Master | Next Rank: 500 Posts; Posts: 105; Joined: Mon Sep 18, 2006 12:34 pm; Location: OH; Thanked: 7 times; GMAT Score:780

by mschling52 » Tue Oct 23, 2007 5:28 am

I think this one is B - Statement (2) alone is sufficient.

Statement (1) tells us that one of the homes was purchased for $110,000. We know that the sum of the 3 purchase prices must be $360,000 (for avg to be 120K), so the other 2 homes must have prices that sum to $250,000. However, there is no way to determine the actual values. For instance, they could be $100,000 and $150,000 in which case $110,000 would be the median. But they could also be $120,000 and $130,000 in which case $120,000 would be the median...Not Sufficient.

Statement (2) tells us that one of the homes was purchased for $120,000. Since this is also the average, we know that the other 2 homes must have either been purchased for $120,000 as well OR one must be higher than 120K and one must be lower. In either case, the median will be $120,000...Sufficient.

mandeepak: Senior | Next Rank: 100 Posts; Posts: 84; Joined: Thu Jan 18, 2007 10:28 pm; Thanked: 2 times

by mandeepak » Tue Oct 23, 2007 7:49 am

Thanks ...

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