Because the median is a better representation of prices. The mean of those 4 prices is $130,000 because of the one outlier.
Jessica k.
asked • 06/04/18Median price rather than the Mean
houses prices are usually reported as the Median price rather than the Mean (average) price. Why would this be true for a set of prices like: $120,000; $125,000; $110,000; $199,000; $100,000?
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