Question

a new business had the following monthly net gains: $8,933.00 $2,254.00 $3,607.00 $6,035.00 $7,031.00 $1,165.00 $2,536.00 $7,184.00 $5,500.00 $4,677.00 find the median net gain. a. $4,892.20 b. $5,088.50 c. $5,500.00 d. $5,435.78

Explanation:

Step1: Sort the data in ascending order

$1,165.00$, $2,254.00$, $2,536.00$, $3,607.00$, $4,677.00$, $5,500.00$, $6,035.00$, $7,031.00$, $7,184.00$, $8,933.00$

Step2: Find the median

Since there are $n = 10$ (even number of data points), the median is the average of the $\frac{n}{2}$-th and $(\frac{n}{2}+1)$-th values.
$\frac{n}{2}=\frac{10}{2} = 5$, $\frac{n}{2}+1=6$
The 5 - th value is $4,677.00$ and the 6 - th value is $5,500.00$
Median=$\frac{4677 + 5500}{2}=\frac{10177}{2}=5088.50$

Answer:

B. $5,088.50$