These are the selling prices of 5 houses in 2007: £145 000, £170 000, £215 000, £90 000, £180 000. Work out the mean selling price.
There are different types of averages: the MEAN, the MEDIAN and the MODE. The mean average is where we add all the numbers up together and divide by the amount of numbers provided. So for this case, we would add all 5 numbers together to equal 800,000 and then divide by 5 which would equal 160,000.
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