Application of number: level 3 - Is House Buying a Good Idea or Not?

... Application of number: level 3 IS House Buying - a Good Idea or Not? A table to show the data collated for the samples for other houses and first-time buyers' houses (in ascending order): Other houses Price (£) First-time buyers' houses Price (£) 1 32,500 1 18,500 2 35,000 2 29,950 3 37,950 3 37,500 4 39,950 4 39,500 5 44,950 5 39,950 6 46,250 6 39,950 7 54,950 7 39,950 8 64,950 8 41,950 9 64,950 9 43,950 10 65,000 10 44,950 11 71,950 11 46,500 12 74,950 12 46,950 13 82,500 13 49,950 14 87,500 14 50,950 15 89,950 15 51,950 16 94,950 16 51,950 17 110,000 17 52,500 18 110,000 18 52,995 19 131,950 19 53,000 20 139,500 20 54,950 21 145,000 21 54,950 22 145,000 22 55,950 23 149,950 23 57,950 24 175,000 24 69,500 25 175,000 25 69,950 26 195,000 26 70,950 27 195,000 27 72,950 28 210,000 28 79,500 29 215,000 29 79,950 30 249,950 30 84,950 The mean of a set of data is the sum of the values divided by the number of values. Mean = sum of values / number of values The range is a measure of spread and the range of a set of data is the difference: Greatest value - least value First-time buyers' houses: * Mean: Sum of house prices / 30 = £1,584,445 / 30 = £52,815 (to the nearest £) * Range: highest house price - lowest house price = £84,950 - £18,500 = £66,450 (to the nearest £) Other houses: * Mean: Sum of house prices / 30 = £3,334,600 / 30 = £111,153 (to the nearest £) * Range: highest house price - lowest house price = £249,950 - £32,500 = £217,450 (to the nearest £) All houses: * Mean:

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