Xr04-16 In the United States, banks and financial institutions often require buyers of houses to pay fees in order to arrange mortgages. In a survey conducted by the U.S. Federal Housing Finance Board, 350 buyers of new houses who received a mortgage from a bank were asked to report the amount of fees

(fees include commissions, discounts, and points)

they paid as a percentage of the whole mortgage.

(Source: Adapted from Statistical Abstract of the United States, 2009, Table 1153.)

a. Compute the mean and median.

b. Interpret the statistics you computed.