Solution-Explain why the weighted mean is a better choice

Explain why the weighted mean is a better choice

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Reference no: EM133068567

A commercial real estate company in Oceanside leases five buildings to local businesses. The lease price per square foot differs by building due to location and amenities. All five buildings are fully leased at:

	Price per Square Foot	Number of Square Feet
Building 1	$75	10,000
Building 2	$85	27,500
Building 3	$90	35,000
Building 4	$45	60,000
Building 5	$55	130,000

Compute the weighted average (mean) for the price per square foot for these buildings. Round your answer to the hundredths place (2 decimals). Note the system may add 0's, but that won't affect your answer.

Explain why the weighted mean is a better choice over the mean in the commercial real estate problem above?

Reference no: EM133068567

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Explain why the weighted mean is a better choice

Reference no: EM133068567

Reference no: EM133068567

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