You want to build your dream house, and you look for house plans in an architectural magazine, which has 100 house plans. You find 8 house plans that have your desired indoor area, and you want to select one of those plans to use for building your house. Specifically, you want to select the house plan whose cost to build is closest to the mean, but that does not exceed the median cost. The building costs for those 8 houses are listed below. 

House          Prices for the Houses You Could Purchase:  

House 1        $210,000.00  

House 2         $320,000.00  

House 3         $245,000.00  

House 4          $350,000.00 

 House 5          $195,000.00  

House 6           $270,000.00  

House 7           $310,000.00  

House 8            $260,000.00

Which cost do you choose that fits your criterion? Explain what you do to reach your answer, starting with how you find the mean and the median. 

Using the prices of the 8 houses in Table, which price do you choose that fits your criterion? 

Explain what you do to reach your answer, starting with how you find the mean and the median.