Question

Suppose that a compensation professional would like to calculate the median salary. he orders four salaries as follows: $20,000, $22,000, $24,000, $26,000. what is the median salary for this data set?

Answer 1

The median means the middle number.
First, you put them in order from least to greatest.
Then, you look to see which number is in the middle.

Since there are only four numbers given, you have to go in between two of the numbers.

The median is in between 22,000 and 24,000.

20,000  22,000  _  24,000  26,000

The number that is equally between 22,000 and 24,000 is 23,000.

The median for the set of data is $23,000.

Hope this helps!