A company's marketing research reveals that in their target customer area, 50% of people are under the age of 39 years while 50% of people make over $80,000 per year. What is this descriptive statistic referred to?

Question

Quizplus · Accepted Answer

This statistic is referred to as a median.
Key Takeaway: Median calculations are considered descriptive statistics and they shed light on a point in a data set whereby 50% of the data fall above while 50% fall below. This is a common descriptive used in large census projects as well as marketing campaigns.

A Company's Marketing Research Reveals That in Their Target Customer