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Compute the median price of the homes

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Question: A total of 92,000 new single-family homes were sold in the United States during February 2006. The median price of the homes was $230,400, a decrease of 2.9% from February 2005 (U.S. Census Bureau, www.census.gov). Why do you think the Census Bureau refers to the median price instead of the mean price?

Reference no: EM131688898

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