What Is the Median of the Following Set of Eleven $\quad$

question 42

Multiple Choice

What is the median of the following set of eleven grades?
55 $\quad$ 60 $\quad$ 62 $\quad$ 67 $\quad$ 70 $\quad$ 72 $\quad$ 75 $\quad$ 76 $\quad$ 77 $\quad$ 85 $\quad$ 95

• A)Since these are interval-ratio scores,the median cannot be found.
• B)70
• C)71
• D)72

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Definitions:

Average Cost

A method to determine the cost of goods sold or inventory valuation where all costs of acquisition are averaged over the total units available for sale.

Supply Functions

Mathematical expressions that describe how the quantity of goods or services offered by suppliers changes in response to price changes.

Demand Functions

Mathematical expressions that show the relationship between the quantity demanded of a good or service and its price.

Market Equilibrium

A condition in a market where the quantity supplied is equal to the quantity demanded at a certain price level.