Determine the Median of a Variable from Raw Data
-The

question 114

Essay

Determine the Median of a Variable from Raw Data
-The annual profits of ten internet businesses are listed below. Find the mean and median profits. Round the median to the nearest dollar. Which measure- the mean or the median- best represents the data Explain your reasoning. $$\begin{array} { l l l l l } \$ 1,172,246 & \$ 163,659 & \$ 440,584 & \$ 350,634 & \$ 290,596 \\\$ 186,731 & \$ 145,809 & \$ 143,209 & \$ 139,096 & \$ 125,106\end{array}$$

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Definitions:

Net Cash

The amount of cash available after accounting for cash inflows and outflows, indicating a company's liquidity.

Indirect Method

A method of reporting net cash flow from operating activities on the cash flow statement by adjusting net income for changes in the balance sheet accounts.

Depreciable Asset

An asset that loses value over time due to wear and tear, decay, or decline in usefulness, and whose cost can be allocated over its useful life.

Patent Amortization

The gradual expense recognition over time of a patent, reflecting its decreasing value or utility over its legal lifespan.