Very simple word problem that Im overthinking...please help
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Very simple word problem that Im overthinking...please help

[From: ] [author: ] [Date: 11-05-27] [Hit: ]
?I know I am over thinking this, but Ive been up all day and brain is shutting down, please help-Average value is $230000.For some fifty houses the average value has been increased by $12000.So,......
The average house value in a neighborbood is $230,000 based on 100 houses. Due to some playground and street improvements, 50 houses have increased in value by $12,000 and the other 50 remained unchanged. What is the new average value of the 100 houses??

I know I am over thinking this, but I've been up all day and brain is shutting down, please help

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Average value is $230000.
For some fifty houses the average value has been increased by $12000.
So, $230000+$12000 =$242000.
multiply this by 50
242000*50=12100000.
other fifty has the same 230000.
multiply 230000*50=11500000.
adding the first and second values and dividing by 100
236000

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$236,000

50 houses increasing by $12,000 is equal to 100 houses increasing by $6000.

or long version -
50 houses remain @ 230,000 avg
Total value of 50 houses = (50 X 230,000 = $11,500,000)
50 houses now @ 242,000 avg
Total value of improved 50 houses = (50 x 242,000 = $12,100,000)

New avg = ($12.1M + $11.5M) / 100 = $236,000

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$236,000

Since half of the houses increase in value, the average increases by half of the 12,000.
There are harder ways to calculate it, but this is one correct shortcut.

-
Original Value of 100 houses is $230,000*100 = 23,000,000
New Value = 23,000,000 + 50*12,000 = 23,600,000
New Average = 23,600,000/100 = $236,000

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If half the houses have increased in value by $12,000 , then the mean increase would have to be half of that. The mean home price should rise 6,000 dollars.

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(50x242,000 + 50x230,000)/100

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236000$
1
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