Question

accountants often use the median when studying salaries for various businesses. what is the median of the following salary list: $32,023, $21,983, $27,507, $43,702, $38,850, $25,972. the median is $

Explanation:

Step1: Arrange salaries in ascending order

$21983, 25972, 27507, 32023, 38850, 43702$

Step2: Determine the middle - value

Since there are 6 (an even number) values, the median is the average of the 3rd and 4th ordered values. Median=$\frac{27507 + 32023}{2}$

Step3: Calculate the median

$\frac{27507+32023}{2}=\frac{59530}{2}=29765$

Answer:

$29765$