Browse by Stream
QnA
Home
QnA
Go To Your Study Dashboard

Get Answers to all your Questions

header-bg qa
  • Home
  • Engineering
  • Platinum prices on 4 consecutive Wednesdays were as shown below: Week<

Platinum prices on 4 consecutive Wednesdays were as shown below:

Week First Second Third Fourth
Rate per 10 grams (In Rs) 1250 1300 1330 11350

What will be the median platinum price for the four Wednesdays?

Option: 1

Rs.1315
 


Option: 2

Rs.1300


Option: 3

Rs.1355

 


Option: 4

Rs.1365


Answers (1)

best_answer

Option (A) Rs.1315

We have to find the median platinum price for the four Wednesdays for the following data:

Week First Second Third Fourth
Rate per 10 grams (In Rs) 1250 1300 1330 11350

We know that, 

The median of data is the middle term of the ascending order of the given data. 

If the number of the observation is even, then median is given by,

\mathrm{M=\frac{\frac{n^{th}}{2}\ \text{term}+(\frac{n}{2}+1)^{th}\ \text{term}}{2}}

Here, the number of observations is 4, which is even.

Applying the formula:

\mathrm{M=\frac{\frac{4^{th}}{2}\ \text{term}+(\frac{4}{2}+1)^{th}\ \text{term}}{2}}

\mathrm{\Rightarrow M=\frac{2^{nd}\ \text{term}+3^{rd}\ \text{term}}{2}}
\mathrm{\Rightarrow M=\frac{1300+\ 1330}{2} }

\mathrm{\Rightarrow M=\frac{2630}{2}}

\mathrm{\Rightarrow M=\ 1315}

So, the median platinum price for the four Wednesdays is Rs.1315.

Posted by

manish

View full answer

JEE Main high-scoring chapters and topics

Study 40% syllabus and score up to 100% marks in JEE

Similar Questions

Trending Articles/News

anam-khan

JEE Main 2025: NIT Rourkela cut-offs for CSE, chemical engineering drop; last years' closing ranks
anam-khan

JEE Main 2025 Live: NTA exam city slip at jeemain.nta.nic.in soon; session 1 schedule
anam-khan

JEE Main 2025 schedule out for session 1; paper 1 from January 22

Latest Question