The following figures show the price of silver in dollars per ounce for the 10-business day period April 4 - April 15, 2004.
7)0, 6.7, 7.0, 7.3, 7.0, 7.4, 7.4, 7.4, 7.3, 7.3

Find the sample median.

A)7.3
B) 7.18
C) 6.85
D) 7.05
E) 6.7

Question

The following figures show the price of silver in dollars per ounce for the 10-business day period April 4 - April 15, 2004. ​
7)0, 6.7, 7.0, 7.3, 7.0, 7.4, 7.4, 7.4, 7.3, 7.3
​
Find the sample median.
​
A)7.3
B) 7.18
C) 6.85
D) 7.05
E) 6.7

Quizplus · Accepted Answer

To find the median, we need to arrange the numbers in ascending or descending order:

6.7, 7.0, 7.0, 7.3, 7.3, 7.3, 7.4, 7.4, 7.4, 7.4

Since there are 10 values, the median is the average of the fifth and sixth values, which is (7.3+7.3)/2 = 7.3. Therefore, the answer is A.

The Following Figures Show the Price of Silver in Dollars