What is the median of this sales-receipt data?

Rationale

$34

To find the median, one must first arrange the sales-receipt data in ascending order and then identify the middle value. The median represents the central point in a data set, where half the values lie below and half lie above it.

A ($25) YOUR ANSWER

This value is lower than the median of the data set. While it may be a part of the arranged data, it does not represent the middle point, which is instead higher, indicating that more than half of the values are above this amount.

B ($34) CORRECT

This is the correct median value. After sorting the data, $34 appears as the middle value, effectively splitting the data into two equal halves. This confirms that half of the sales receipts are below $34 and half are above.

C ($41) YOUR ANSWER

This amount is above the median and indicates that this value is higher than the central point of the data set. Therefore, it cannot be the median as it fails to represent the middle of the sorted values.

D ($48) YOUR ANSWER

Similar to option C, $48 is also above the median. Being significantly higher than the middle value means that this choice does not accurately reflect the central measure of the sales-receipt data.

Conclusion

The median serves as a vital statistical measure, indicating the central tendency of a data set. In this case, $34 is the median, representing the point at which half of the sales-receipts fall below and half above. Understanding the median is crucial in analyzing data, as it provides a clear picture of the distribution, especially in cases where the data set contains outliers or is skewed.

What is the median of this sales-receipt data?

$34

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