For a Data Set with an Odd Number of Observations

question 5

Multiple Choice

For a data set with an odd number of observations that have been sorted from smallest to largest values, where is the median located?

• A) n
• B) n/2
• C) (n + 1)/2
• D) n + ½

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Definitions:

Franchises

Business models that allow individuals to operate their own outlets of a larger company, using its brand, processes, and resources.

Company Stores

Retail establishments operated by a company that sells its own products to its employees or the general public, often in a monopolistic or semi-monopolistic market.

Franchising Relationship

A business model that involves a franchisor licensing its know-how, procedures, intellectual property, use of its business model, brand, and rights to sell its branded products and services to a franchisee.

Franchisor

A company that grants the license to third parties for them to operate a business under the franchisor's brand and business model.