14. at a used car lot, four cars were for sale at the following prices: $8,499, $7,999, $6,550, $7,275. what…

14. at a used car lot, four cars were for sale at the following prices: $8,499, $7,999, $6,550, $7,275. what was the median sale price of the four used cars?

14. at a used car lot, four cars were for sale at the following prices: $8,499, $7,999, $6,550, $7,275. what was the median sale price of the four used cars?

Answer

Explanation:

Step1: Arrange prices in order

$6550, 7275, 7999, 8499$

Step2: Find median for 4 values

Since there are 4 values (an even - numbered data set), the median is the average of the two middle values. The two middle values are the 2nd and 3rd values. So, median=$\frac{7275 + 7999}{2}$.

Step3: Calculate the average

$\frac{7275+7999}{2}=\frac{15274}{2}=7637$

Answer:

$7637$