Mean, Median, Mode, Range [2939]

Houses recently sold in a subdivision for the following prices:

$235,000; $250,000; 260,000; $240,000; $255;000; and $245,000.

Calculate the mean, median, mode, and  range.

1.     The mean is the sum of the values divided by the number of values ($1,485,000 ÷ 6 = $247,500).

2.     The median is the value that fall in the middle of the array.  This array has an even number of values, so the median is the average of the two middle values ([$245,000 + $250,000] ÷ 2 = $247,500).

3.     The mode is the value that appears the most often in an array.  In this case, no value is duplicated, so there is no mode.

4.     The lowest value in the array is $235,000 and the highest value is $260,000 so the range is $25,000.