Based on the following rents: $775, $800, $750, $825, $875, $850, $850, $750, $775, $850, $800, $800, $750, $900, $875, what is the modal rent?

The modal rent is determined by identifying the value or values that appear most frequently in a data set. In this case, we analyze the given rents: $775, $800, $750, $825, $875, $850, $850, $750, $775, $850, $800, $800, $750, $900, and $875.

First, we count how many times each rent occurs:

• $750 appears 3 times

• $775 appears 2 times

• $800 appears 3 times

• $825 appears 1 time

• $850 appears 3 times

• $875 appears 2 times

• $900 appears 1 time

The rents $750, $800, and $850 each occur 3 times, which is more than any other rent in the set. Since three different values have the same highest frequency, the mode is not singular; it is represented by multiple values.

Therefore, the modal rent is indeed $750, $800, and $850, as these are the values that appear most frequently in the dataset. This correct identification of multiple modes reflects an important concept in statistics, where a dataset can have more than one mode when multiple values have