What Is the Median for the Set of Scores Shown $$\begin{array} { l l } \ X & \mathrm { f } \\\hline 5 & 1 \\4 & 1 \\3 & 2 \\2 & 3 \\1 & 4\end{array}$$

question 57

Multiple Choice

What is the median for the set of scores shown in the frequency distribution table? $$\begin{array} { l l } \ X & \mathrm { f } \\\hline 5 & 1 \\4 & 1 \\3 & 2 \\2 & 3 \\1 & 4\end{array}$$

• A)1
• B)1.5
• C)2
• D)2.5

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Definitions:

Finished Goods

Products that have completed the manufacturing process and are ready to be sold or distributed to customers.

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Inventories that are built up in anticipation of predictable changes in demand that occur at certain times of the year.

EOQ

Economic Order Quantity is a formula used by businesses to determine the ideal order quantity that minimizes inventory costs including holding, shortage, and order costs.

Capital Cost

The upfront expenditure required to acquire or improve fixed assets such as buildings, machinery, or equipment, contributing to the productive capacity of a firm.