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The selling prices of product Z for the years from 20X3 to 20X8 are shown in the table below.
Year. Selling Price($)
20×3. 24
20×4 23
20×5 24
20×6 22
20×7 21
20×8 20
What is the median selling price for the product Z for the years 20×3 to 20×8?
Sir the answer is $23
Do i have to do this way?
24+23+24+22+21+20+1/6
=22.5 so it’s 23? Am i right sir?No.
You are calculating the arithmetic mean. The question asks for the median, not the arithmetic mean.
I explain how to arrive at the median in my free lectures, and you cannot expect me to type out all me lecture here 🙂
Great, although it is rather pointless to use the notes without watching the lectures because they are only lecture notes. It is in the lectures that I work through the examples and explain and expand on the notes.
If you are not watching the lectures then you need t buy a Study Text and study from there.
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