What figure represents the median monthly rental from the provided data?

To determine the median monthly rental from a provided data set, the key steps involve organizing the rental values in ascending order and identifying the middle value. The median is defined as the value that separates the higher half from the lower half of the data set. If there is an odd number of values, the median is simply the middle one. If there is an even number of values, the median is calculated as the average of the two middle numbers.

In this scenario, option C, which is 1,470, signifies that after ordering the rental amounts, it is either the middle value or, in the case of an even count, the average of the two central figures. By arriving at this result, it indicates a thorough understanding of the data distribution and an ability to accurately assess central tendency. Knowing how to find the median is crucial for appraisers as it provides insights into market trends and helps in making sound judgments for property valuations.

The other figures presented would not fulfill the criteria, as they either do not fit the position of the middle value or do not represent the correct average in case of an even distribution. Understanding this method provides a strong foundation for analyzing rental data effectively.