Median for grouped data, Applied Statistics

Assignment Help:

Grouped Data 

In order to find the median, the median class is to be first located and then interpolation is to be used by assuming that items are evenly spaced over the entire class interval. The formula used for the calculation of median is

Median 1567_grouped data.png W + Lm

Where,      

         Lm     =       Lower limit of the median class

         fm      =       Frequency of the median class

         F       =       Cumulative frequency up to the lower limit of the median class

         W     =       Width of the class interval

         N       =       Total frequency.

Example 

Let us find median for the following data. 

Gross profit as a percentage of sales

0-10

10-20

20-30

30-40

40-50

No. of companies

21

32

43

34

23

Gross profit
 (%)

No. of Companies
 (f)

Cumulative Frequency
 (cf)

0-10

21

 21

10-20

32

 53

20-30

43

 96

30-40

34

130

40-50

23

153

 Here the total frequency N = 153. Median is the size of the 1504_grouped data1.pngth item, i.e.2102_grouped data2.pngth item, i.e. the size of the 77th item. It lies in the class 20-30. Hence 20-30 is the median class, of which the lower limit is 20.

Thus, Lm = 20, N = 153, F = 53, fm = 43, W =10

Median 

885_grouped data3.png

= 25.34

Thus 25.34 is the median gross profit percentage of the companies. 


Related Discussions:- Median for grouped data

Business forecasting, Meaning and Definitions of Business Forecasting T...

Meaning and Definitions of Business Forecasting The problem of business  forecasting  refers to the  analysis  of the past and  present economic  conditions. With  the objectiv

Business reporting and analysis, You are a business analyst working for a c...

You are a business analyst working for a company called Combined Computers Pty Ltd. You have been asked to prepare a business report with statistics in it for the managing director

Main effects and interactions, what is the independent variable in how ener...

what is the independent variable in how energetic do people feel after drinking different types of soft drints?

Calculation of degrees of freedom, Calculation of Degrees of Freedom Fi...

Calculation of Degrees of Freedom First we look at how to calculate the number of DOF for the numerator. In the numerator since we calculate the variance from the sample means,

Statistical definition of probability, Statistical Definition of probabilit...

Statistical Definition of probability: Ques: (a) (i)  Distinguish Statistical Definition of probability from the Classical Definition.                  (ii) State the A

Markov Chain, Each weekend, Derek either reads a book (B), goes to the cine...

Each weekend, Derek either reads a book (B), goes to the cinema (C), visits his local museum (M), or plays squash (S). If he reads a book one weekend, then he will take part in one

Financial payments technology, Suppose the money supply process is now repr...

Suppose the money supply process is now represented by the following function: where m measures the sensitivity of money supply with respect to the interest rate. (i) Us

Aviation legislation - SUPPLEMENTAL TYPE CERTIFICATION, JAR 21 SUPPLEMENTAL...

JAR 21 SUPPLEMENTAL TYPE CERTIFICATION JAR 21 Part E introduces the need for Supplemental Type Certification when a manufacturer wishes to make major changes to the Type Desig

Z-score of a student, A study was designed to investigate the effects of tw...

A study was designed to investigate the effects of two variables - (1) a student's level of mathematical anxiety and (2) teaching method - on a student's achievement in a mathemati

Explain the central tendency, Explain what central tendency and variability...

Explain what central tendency and variability are. In your answer define what the mean, median, mode, variance, and standard deviation are. What is the difference between the descr

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd