Find the Median for the Given Sample Data $\begin{array} { l l l l l } 3.5 & 1.6 & 2.4 & 3.7 & 4.1 \end{array}$

question 87

Multiple Choice

Find the median for the given sample data.
-The normal monthly precipitation (in inches) for August is listed for 20 different U.S. cities.
$\begin{array} { l l l l l } 3.5 & 1.6 & 2.4 & 3.7 & 4.1 \end{array}$
$\begin{array} { l l l l l } 3.9 & 1.0 & 3.6 & 4.2 & 3.4 \end{array}$
$\begin{array} { l l l l l l } 3.7 & 2.2 & 1.5 & 4.2 & 3.4 \\ 2.7 & 0.4 & 3.7 & 2.0 & 3.6 \end{array}$
$\begin{array} { l l l l l } 2.7 & 0.4 & 3.7 & 2.0 & 3.6 \end{array}$

• A)\(3.50 \mathrm { in }\).
• B) \(3.40 \mathrm { in } .\)
• C) \(2.94 \mathrm { in } .\)
• D) \(3.45 \mathrm { in }\).

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Definitions:

Labor

The use of physical or mental labor by people to produce goods and services.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity demanded by consumers within a certain period.

Labor Supply Curve

A graphical representation showing the relationship between the wage rate and the quantity of labor workers are willing to offer at that wage rate.

Marginal Cost

The cost uplift incurred by the creation of an extra unit of a good or service.