Last visit was: 21 Nov 2024, 17:38 It is currently 21 Nov 2024, 17:38

Close

GRE Prep Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GRE score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Close

Request Expert Reply

Confirm Cancel
Verbal Expert
Joined: 18 Apr 2015
Posts: 30003
Own Kudos [?]: 36341 [3]
Given Kudos: 25927
Send PM
Manager
Manager
Joined: 02 Sep 2021
Posts: 188
Own Kudos [?]: 186 [1]
Given Kudos: 13
GPA: 3.5
WE:Design (Other)
Send PM
Intern
Intern
Joined: 18 May 2021
Posts: 2
Own Kudos [?]: 1 [1]
Given Kudos: 3
Send PM
Verbal Expert
Joined: 18 Apr 2015
Posts: 30003
Own Kudos [?]: 36341 [1]
Given Kudos: 25927
Send PM
At a certain store for a certain month, in a chart given below, the pr [#permalink]
Expert Reply
1
Bookmarks
Quote:
To determine the median price, we first need to arrange the items per ascending or descending order of their price. We chose to do it in ascending order. Thus, we have the following table:


Attachment:
screenshot.130.jpg
screenshot.130.jpg [ 103.82 KiB | Viewed 2992 times ]



Since the total number of cell phones sold is 450, the median value

=Price of the \((\frac{450+1}{2})\) cell phone

=Price of the(225.5)/cell phone
=Average of the price of the225thitem and the price of the226thitem
We see that the 225th item lies in 225th cumulative number of units' column in the table, thus, its price would be the price of the brand that lies in the same row of the 225th cumulative item. We find that it is $250.

Similarly, we see that the 226th item lies in 300th cumulative number of units' column in the table, thus, its price would be the price of the brand that lies in the same row of the 300th cumulative item. We find that it is $350.

Thus, the median price per cell phone =$\(\frac{250+350}{2}\)=$300.

Note that the median price per phone (= $250) would not be the price of the middle-most brand if the prices are arranged in ascending order: 150, 200, 250, 350, and 400. This is because the logic is flawed. In this case the number of units per brand of cell phone sold is ignored.
Manager
Manager
Joined: 02 Sep 2021
Posts: 188
Own Kudos [?]: 186 [0]
Given Kudos: 13
GPA: 3.5
WE:Design (Other)
Send PM
Re: At a certain store for a certain month, in a chart given below, the pr [#permalink]
ajit97n wrote:
Could someone please tell me why is arranging the 5 prices alone in ascending order of price ( S P T Q R) and seeing the middle value (T) to be the median wrong. and in which case ( how would the question be worded) would this be the required method of solving.


The formula for median is When there are odd number of term, pick the middle one, and when there are even, pick the average of the middle 2.
For example if the set is {1,2,3,4,5} the median is 3
if the set is {1,2,3,4,5,6} then median is 3.5.
User avatar
GRE Prep Club Legend
GRE Prep Club Legend
Joined: 07 Jan 2021
Posts: 5030
Own Kudos [?]: 74 [0]
Given Kudos: 0
Send PM
Re: At a certain store for a certain month, in a chart given below, the pr [#permalink]
Hello from the GRE Prep Club BumpBot!

Thanks to another GRE Prep Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.
Prep Club for GRE Bot
Re: At a certain store for a certain month, in a chart given below, the pr [#permalink]
Moderators:
GRE Instructor
84 posts
GRE Forum Moderator
37 posts
Moderator
1111 posts
GRE Instructor
234 posts

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne