find the median for each data set.\n7) monthly revenue\n27,910 37,440 22,020 44,350\n31,400 34,950 72,930…

find the median for each data set.\n7) monthly revenue\n27,910 37,440 22,020 44,350\n31,400 34,950 72,930 62,040\n45,260 62,180 59,420 15,220\n19,920 34,830 24,760 36,820

find the median for each data set.\n7) monthly revenue\n27,910 37,440 22,020 44,350\n31,400 34,950 72,930 62,040\n45,260 62,180 59,420 15,220\n19,920 34,830 24,760 36,820

Answer

Explanation:

Step1: Arrange data in ascending order

$15220, 19920, 22020, 24760, 27910, 31400, 34830, 34950, 36820, 44350, 45260, 59420, 62040, 62180, 72930$

Step2: Determine the number of data points

There are $n = 16$ data - points. Since $n$ is even, the median is the average of the $\frac{n}{2}$th and $(\frac{n}{2}+1)$th ordered data points. $\frac{n}{2}=\frac{16}{2}=8$ and $\frac{n}{2}+1 = 9$

Step3: Find the median

The 8th value is $34950$ and the 9th value is $36820$. Median=$\frac{34950 + 36820}{2}=\frac{71770}{2}=35885$

Answer:

$35885$