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How do you interpret the fact that average house prices in the US have been in the recent past 20-30 percent higher than median prices?
Wiki User
∙ 15y ago
Average price higher than median price in this situation means that there was a number of EXTREMALLY expensive homes sold, way, way, higher than the median price, which skewed the average to the upside. There is a cluster of "average" properties around the mean, but a significant number of million dollar / pound houses than pull house price averages up.
The mean is also higher than the median in the UK by about 20% - see Zoopla data that shows average house price as about 200k vs median.
Wiki User
∙ 15y ago
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Can a mean average ever be higher than a median average?
Yes. If the predominant data are higher than the median, the mean average will be higher than the median average. For example, the median average of the numbers one through ten is five. The mean average is five and one-half.
Can the median ever be higher than the average?
Yes. It can be higher or lower
Can the average be lower than the median?
Yes. Higher or lower. The average is the sum of the elements divided by the number of elements. The median is the average of only the highest and lowest numbers.. For the numbers 0,5,100, the median is 50 and the average is 35. For the numbers 0,53,100 the median is still 50 and the average is 51.
What is the average salary of a forensic linguist?
The median is somewhere at $50,000 or higher depending on the educational achievement.
What do you do when there are 2 medIAN'S?
You take the average of the two medians. This average is then you median
Does the median have 50 percent of the cases below only in a normal distribution?
No. By definition of the median, the median has 50 percent of the case below and 50 percent of the cases above. This has nothing to do with the cases being in a normal distribution.
50 percent scores falling below median?
Yes. That is how the median is defined.
Is the mean and median similar?
The Mean is the average of a given set of values. The Median is the value that has the same number of smaller values than the number of higher values, it is in the middle of them. In a symmetrical distribution the Mean is equal to the Median. In an asymmetrical distribution they have different value.
What is the median of 82 and 78?
Median is average so 80.
What is the median for 84 83 82 87 68 74 91 95 98 88 74 66 85 100 91 62 93 91?
The median is the average of 85 and 87, that is 86.The median is the average of 85 and 87, that is 86.The median is the average of 85 and 87, that is 86.The median is the average of 85 and 87, that is 86.
What is the Median salary of a pediatrician?
They make on average a median salary of 135,000yr.
Why mean is higher than median?
it is a divison
