Need help providing additional examples or support for their argument. The response must be substantive and demonstrate your statistics knowledge with this post. 3-4 sentences

Hello Class,

Option 3 completely stood out, because the marking in house value is insane. It is so hard to believe that a house is something of joy and accomplishment and the hardest thing to get. That many work so hard just to get and many exhaust one's bank accounts to buy and meet mortgage payments.

Question 1 is, If the median house price is $1.9 million, does that necessarily mean that half of the houses on the block are worth less than $1.9 million and half are worth more; not necessary that they are worth less, or more.

Question 2, How do ties figure in, just because one house that is at the median of $1.9 million may or may not be the block? Let's say that the whole block is $1.9 million but then divided into different house sizes, therefore I have more than one house sitting on the $1.9 million block BUT is valued differently by cost based on size, the number of rooms, and restrooms, etc. The median price will be $1.9m and not half of the houses are less than $1.9m, and the other half worth more.

Question 3, give an example that includes 8 to 12 data points. 15 have a price less than $1.9 million, 8 have a price of $1.9million, and 12 have a price greater than $1.9m.

Under $1.9 million: $1.3, $1.3, $1.3, $1.4, $1.5, $1.5, $1.5, $1.6, $1.6, $1.7, $1.7, $1.8, $1.8, $1.9, $1.9

Over $1.9 million: $1.9, $1.9, $1.9, $2.1, $2.3, $2.3, $2.8, $2.8, and, $2.8

($1.6 + $2.3)/2 = $2 prices will be below $2, and prices will be above $2.

References

Bennett, J. O., Briggs, W. L. & Triola, M. F. (2017). Statistical reasoning for everyday life (5th ed.). Pearson Education.

Pearson. (n.d.). When should you use a mean and when should you use a median? (Links to an external site.) [Video]. https://mediaplayer.pearsoncmg.com/assets/cWSUSyFyf2fjOGj5lEJQ_w73ZBZdo4J