Question

Accountants often use the median when studying salaries for various businesses. What is the median of the following salary list: $32,023; $21.934; $27,596; $43,782;$38,840: $25,985?The median is what ?

Answer 1

median = 29809.5

Explanation:

The given numbers:

$32,023; $21,934; $27,596; $43,782; $38,840: $25,985

To get the median, we need to arrange the numbers in ascending order:

21934, 25985, 27596, 32023, 38840, 43782

We check the number of dataset, the number will determine the formula for the median:

number of dataset = 6

$\text{For mula for meadian for even numbers = }\frac{N+1}{2}$$\begin{gathered} \operatorname{median}\text{ = }\frac{6+1}{2}\text{ = 7/2} \\ \operatorname{median}\text{ = 3.5th position} \end{gathered}$

The number in the 3.5th position between 27596 and 32023

$\begin{gathered} \operatorname{median}\text{ = }\frac{27596\text{ + }32023}{2} \\ \operatorname{median}\text{ = }\frac{59619}{2} \\ \operatorname{median}\text{ = }29809.5 \end{gathered}$