The Housing Development Board (HDB) in Singapore uses the median price of HDB flats in various estates as a gauge of property prices in that area.
Why is the median price used as a central tendency value instead of mean or modal values? Access the website link below to find out how statisticians decide on the most appropriate central tendency value in real life. What sort of critical thinking skills do statisticians use?
HDB InfoWEB: Median Resale Prices by Town and Flat Type : Buying a Resale Flat