In the Elementary Principles in Finance course, the number of students in five sections are 65, 80, 93, 65, 77. What is the median?

Prepare for the PHFO Quantitative Analysis For Business Exam. Study with flashcards, multiple choice questions, hints, and explanations to ensure confidence and success in your exam!

Multiple Choice

In the Elementary Principles in Finance course, the number of students in five sections are 65, 80, 93, 65, 77. What is the median?

Explanation:
Median is the middle value when data are ordered. With five numbers, the median is the third value in the ordered list. Arrange the sections by size: 65, 65, 77, 80, 93. The middle value is 77, so the median is 77. The option 65 isn’t the middle value, so it isn’t the median.

Median is the middle value when data are ordered. With five numbers, the median is the third value in the ordered list. Arrange the sections by size: 65, 65, 77, 80, 93. The middle value is 77, so the median is 77. The option 65 isn’t the middle value, so it isn’t the median.

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