Question

Your business has conducted five market research surveys in the past year. The cost per survey is as follows: Survey 1: $725 Survey 2: $850, Survey 3: $1,250, Survey 4: $1,350, Survey 5: $900. What is the median cost of the market research surveys?

Answer 1

Answer:

$900

Step-by-step explanation:

Your business has conducted five market research surveys in the past year.

Survey 1: $725,

Survey 2: $850,

Survey 3: $1,250,

Survey 4: $1,350,

Survey 5: $900.

Arrange them in ascending order:

Survey 1: $725,

Survey 2: $850,

Survey 5: $900 - median,

Survey 3: $1,250,

Survey 4: $1,350.

The median is the number that is halfway into the set.