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Find the median monthly housing expenditure

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Reference no: EM13882364

The following table contains monthly housing expenditures for 10 families.

 

Family

Monthly Housingexpenditures(dollars)

1

300

2

440

3

350

4

1,100

5

640

6

480

7

450

8

700

9

670

10

530

(i) Find the average monthly housing expenditure.

(ii) Find the median monthly housing expenditure.

(iii) If monthly housing expenditures were measured in hundreds of dollars, rather than in dollars, what would be the average and median expenditures?

(iv) Suppose that family number 8 increases its monthly housing expenditure to $900, but the expenditures of all other families remain the same. Compute the average and median housing expenditures.

Reference no: EM13882364

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