Ubuntu – how to update python version on ubuntu 14.10

I'm trying to figure out what version of python i have installed, and also upgrade it to the latest.

When I go to a command prompt and check, it looks like I have an old version of python installed.

me@linuxdev:~$ python
Python 2.7.8 (default, Oct 20 2014, 15:05:19) 
[GCC 4.9.1] on linux2
Type "help", "copyright", "credits" or "license" for more information.
>>> 

But then when i launch the sofware center in Ubuntu and check the "installed" section, under "developer tools" i see an entry for "Python (v3.4)"

So I'm not really sure what version I'm running.
I would like to

1. remove any old unused version of python.
2. end up with one version, which should be the latest

Thanks.

EDIT 1

This is what happens when I try to reinstall python from the commandline:

me@linuxdev:~$ sudo apt-get --reinstall python
E: Command line option --reinstall is not understood