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What is the median of prices?

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What is the median of prices?

by Max@Math Revolution » Sun Jun 26, 2016 6:39 am
What is the median of prices?
1) More than 1/2 of the prices are $1,500 or more than $1,500
2) More than 1/2 of the prices are $1,500 or less than $1,500

*An answer will be posted in 2 days.
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by 800_or_bust » Sun Jun 26, 2016 11:04 am
Max@Math Revolution wrote:What is the median of prices?
1) More than 1/2 of the prices are $1,500 or more than $1,500
2) More than 1/2 of the prices are $1,500 or less than $1,500

*An answer will be posted in 2 days.
(1) Not sufficient -- implies the median is $1500 or something greater than $1500.

(2) Not sufficient -- implies the median is $1500 or something less than $1500.

Combined (1) and (2) are sufficient. The median must be $1500 in order for (1) and (2) to both be true. Answer is C.
800 or bust!
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by Max@Math Revolution » Mon Jun 27, 2016 5:34 pm
There are many variables in this case. Hence, there is high chance that E is the correct answer. Using 1) and 2), we can see that "more than 1/2 of the prices are $1,500 or more than $1,500" and "more than 1/2 of the prices are $1,500 or less than $1,500". The overlapping price then will be $1,500. Thus, $1,500 becomes the median, and the correct answer is C.

- Forget conventional ways of solving math questions. In DS, Variable approach is the easiest and quickest way to find the answer without actually solving the problem. Remember equal number of variables and independent equations ensures a solution.
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