What is the median of the data set {3, 8, 1, 6, 5}?

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

What is the median of the data set {3, 8, 1, 6, 5}?

Explanation:
The median is the value that splits an ordered data set into two equal halves. For an odd number of observations, it’s the middle value. First, sort the numbers: 1, 3, 5, 6, 8. There are five values, so the middle position is the third one. That value is 5, so the median is 5. In general, if there were an even number of values, you’d take the average of the two middle numbers.

The median is the value that splits an ordered data set into two equal halves. For an odd number of observations, it’s the middle value. First, sort the numbers: 1, 3, 5, 6, 8. There are five values, so the middle position is the third one. That value is 5, so the median is 5. In general, if there were an even number of values, you’d take the average of the two middle numbers.

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