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Answer :
Final answer:
Thus The mean and median for the provided real estate sales data are both 300 (in thousands of dollars), and the mode is 270 (in thousands of dollars).
Explanation:
To calculate the mean, median, and mode for a data set, we must first arrange the data in ascending order if not already done. The data set provided, in ascending order is: 180, 250, 270, 270, 290, 310, 320, 330, 340, 440 (all values in thousands of dollars). Now, we will find the mean, median, and mode using this organized data.
Mean
Mean is the average of the data set, found by adding up all the values and dividing by the number of values. Here, the calculation is (180 + 250 + 270 + 270 + 290 + 310 + 320 + 330 + 340 + 440) / 10 = 3000 / 10 = 300 (in thousands of dollars).
Median
Median is the middle value of the data set. As there are 10 values which is an even number, the median will be the average of the two middle values. The two middle values in our data set are 290 and 310. Therefore, the median is (290 + 310) / 2 = 300 (in thousands of dollars).
Mode
Mode is the most frequently occurring value in the data set. In this case, 270 is the only value that appears more than once (twice). Thus, the mode is 270 (in thousands of dollars).
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