Solution:
Given the rents for five apartmnts as;
[tex]\text{ \$690, \$690, \$760, \$1600, \$850}[/tex]
It is observed that the data has an outlier ($1600).
Thus, the median is usually preferred in these situations because the value of the mean can be distorted by the outliers.
CORRECT OPTION: The median best describes the rents because most of the rents were near $760
