According to the U.S. Census Bureau (census.gov), in 2016, the median sales price of new houses was

Question:

According to the U.S. Census Bureau (census.gov), in 2016, the median sales price of new houses was $315,500 and the mean sales price was $370,800.

a. Interpret the median sales price.

b. Interpret the mean sales price.

c. Discuss the shape of the distribution of the price of new houses.

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...

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