Hi everyone, I am very confused how median is calculated in the Course Material on Page 12 for Question 1.8 Can anyone explain me
You need to use the cumulative frequency table on page 9. We need to find the 50.5th observation. This lies in the range 300 to 400. Since 46 observations are less than or equal to 300, we need to move up another 4.5 observations. We know that 35 observations lie between 300 and 400, so (assuming the values are distributed uniformly) the median observation will be (4.5/35)ths of the way along this range, ie 300 +(4.5/35)x100. Hope this helps.
