The Amount Spent on Textbooks for the Fall Term Was

question 177

Multiple Choice

The amount spent on textbooks for the fall term was recorded for a sample of five hundred university students. The mean expenditure was calculated to be $500 and the median expenditure was calculated to be $425. Which of the following interpretations of the median is correct?

• A) 50% of the students sampled had textbook costs equal to $425
• B) 50% of the students sampled had textbook costs that were less than $425
• C) The average of the textbook costs sampled was $425
• D) The most frequently occurring textbook cost in the sample was $425

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