Question is on calculating a median in a ranged response to a survey.

Question

468 answered a question in the survey. The median response is 234. But, the response falls within a ranged answer, $100,000 - $200,00. 41 answered the first ranged response, Less than $100,000 and 253 answered the second response, $100,000-$200,000. What is the formula for calculating the median when in such a range. I know there is one, but I forgot it and can't find it. Please help. Thanks

Answer 1

Median:

The value in a group of numbers that half of the numbers falls above it and the other half below it. It is that simple.

The value is given = 234.

 

The median formula when in a given range is the total answers (in/out of range) obtained divided by 2.

{( 253 + 41)/ ₂} = 294/₂  = 147