BREAKING: Target Test Prep releases Brand New 2026 On Demand GMAT prep course

Redeem
TTP OnDemand GMAT Video Course
Featured Course

Target Test Prep GMAT OnDemand

Scott Woodbury-Stewart’s private virtual classroom — 400 hours of master-class video lessons for the GMAT Focus Edition.

  • 715+ score guarantee — highest in the industry (99th percentile)
  • 52 chapters · 1,500+ lessons · 4,000+ practice questions
  • 400 hours of video · 1,500+ instructor-led HD smartboard lessons
  • 300,000+ students accepted to Harvard, Stanford, Wharton, Booth & Sloan & more
  • 24/7 live support + weekly Zoom office hours with GMAT instructors
  • TTP AI Assist — 24/7 AI-powered virtual tutor for instant help
  • 1,200+ flashcards + AI-powered study assistant & daily calendar
  • OnDemand, LiveTeach & GMAT Bootcamp formats available
  • Also: GRE, SAT Math & Executive Assessment courses
  • MBA Admissions Consulting now available
  • 🏆 2025 EdTech Breakthrough Award: Test Prep Solution Provider of the Year
  • 200,000+ students served
  • 5-day free trial — $0 to start, no auto-billing, cancel anytime
★★★★★ 5.0 (559 reviews)
130-pt guarantee
$0 to start then $127/mo
Start Free 5-Day Trial Read 559 Reviews →

Last month \(15\) homes were sold in Town \(X.\) The average (arithmetic mean) sale price of the homes was \(\$150,000\)

Expert replies
Post new topic Post Reply
Previous Topic Next Topic
Legendary Member
Posts: 2898
Joined: Thu Sep 07, 2017 2:49 pmFollowed by: 5 members
Thanked: 6 times
by Vincen » Fri Jun 18, 2021 7:38 am

Timer

00:00

Answers

A

B

C

D

E

Stats

Difficulty—

Last month \(15\) homes were sold in Town \(X.\) The average (arithmetic mean) sale price of the homes was \(\$150,000\) and the median sale price was \(\$130,000.\) Which of the following statements must be true?

I. At least one of the homes was sold for more than \(\$165,000.\)
II. At least one of the homes was sold for more than \(\$130,0000\) and less than \(\$150,000.\)
III. At least one of the homes was sold for less than \(\$130,000.\)

A. I only
B. II only
C. III only
D. I and II
E. I and III

Answer: A

Source: GMAT Prep
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY
Source: — Problem Solving |

GMAT/MBA Expert

User avatar
GMAT Instructor
Posts: 16207
Joined: Mon Dec 08, 2008 6:26 pmFollowed by: 1268 members
Location: Vancouver, BC
Thanked: 5254 times
GMAT Score:770

Re: Last month \(15\) homes were sold in Town \(X.\) The average (arithmetic mean) sale price of the homes was \(\$150,0

by Brent@GMATPrepNow » Fri Jun 18, 2021 10:47 am
Vincen wrote: ↑
Fri Jun 18, 2021 7:38 am
 Last month \(15\) homes were sold in Town \(X.\) The average (arithmetic mean) sale price of the homes was \(\$150,000\) and the median sale price was \(\$130,000.\) Which of the following statements must be true?

I. At least one of the homes was sold for more than \(\$165,000.\)
II. At least one of the homes was sold for more than \(\$130,0000\) and less than \(\$150,000.\)
III. At least one of the homes was sold for less than \(\$130,000.\)

A. I only
B. II only
C. III only
D. I and II
E. I and III

Answer: A

Source: GMAT Prep
The key word in this question is MUST
So, if it's possible to create a scenario in which the statement is not true, we can eliminate it.

So, let's create a possible scenario and see which answer choices we can eliminate.

Aside: To make things simpler, let's divide all of the prices by 1000.

First, we'll use a nice rule that says: sum of all values = (mean)(number of values)
So, the sum of all 15 prices = ($150)(15) = $2250.

If the median is $130, then the middlemost value is $130

So, one possible scenario is:
130, 130, 130, 130, 130, 130, 130, 130, 130, 130, 130, 130, 130, 130, 430

Aside: To find the last value (430), I took the sum of all 15 numbers (2250) and subtracted (14)(130)

Notice that this scenario tells us that statements II and III need not be true.
Since answer choices B, C, D and E all include either II or III, we can eliminate them.

This leaves us with A, which must be the correct answer.

Cheers,
Brent
Brent Hanneson - Creator of GMATPrepNow.com
Image
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY
Post new topic Post Reply
• Page 1 of 1