An approximate median can be found for data that have been grouped into a frequency distribution. First

Question:

An approximate median can be found for data that have been grouped into a frequency First it is necessary to find the median class. This is the class that contains the median value. That is the n / 2 data value. Then it is assumed that the data values are evenly distributed throughout the median class. The formula is

where n = sum of frequencies
cf = cumulative frequency of class immediately preceding the median class
w = width of median class
f = frequency of median class
Lm = lower boundary of median class
Using this formula, find the median for data in the frequency distribution of Exercise 15.

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...