1. Calculating Median Home Prices
Real Estate AgentBackground
A real estate agent has a list of recently sold property prices in a neighborhood. One luxury mansion sold for a significantly higher price, which would skew the average.
Problem
Find the median price to give prospective buyers a realistic expectation of neighborhood home values.
How to use
Paste the list of sale prices into the Dataset field and set decimal places to 2.
Dataset: 350000, 420000, 380000, 410000, 2500000
Decimal Places: 2
Include Quartiles: falseOutcome
The tool sorts the prices and identifies 410,000.00 as the median, ignoring the 2.5 million outlier.