A real estate investor decided to sell five of his apartments at the cost of $168,000, $235,000, $157,000, $ 256,000 and $ 235,000. Due to a bidding war, the price on the most expensive apartment will likely be sold for $15,000 higher than the initial asking price. Which of the following best describes how the mean and median would change as a result of a higher sale price on the most expensive apartment? Select the correct option
A) Both the mean and median will be unchanged.
B) The median will change but the mean remains unchanged.
C) The median will remain the same but the mean will increase.
D) Both the mean and the median will increase by the same percentage.
E) Both the mean and the median will increase by different amounts.
Soln:   (C) The median will remain the same but the mean will increase.   ANSWER:The median will remain the same but the mean will increase.
<result>C</result>
A real estate investor decided to sell five of his apartments at the cost of $168,000, $235,000, $157,000, $ 256,000 and $ 235,000. Due to a bidding war, the price on the most expensive apartment will likely be sold for $15,000 higher than the initial asking price. Which of the following best describes how the mean and median would change as a result of a higher sale price on the most expensive apartment?