Question

In a company with 100 employees, 45 earn Rs.20, 000 per month, 25 earn Rs.30, 000, 20 and earn Rs.40, 000, 8 earn rs.60, 000, and 2 earn Rs.150, 000. The median of the salaries is
1. Rs.20, 000
2. Rs.30, 000
3. Rs.32, 300
4. Rs.40, 000

Answer 1

Correct Answer - Option 2 : Rs.30, 000

All the values put either in ascending or descending order first.

Now number of observations equal to 100 [even]

∴ The median of these values = Avg of two middle most observations.

= (50^th observation + 51^thobservation)/2

= (30000 + 30000)/2

= 30,000