The amount spent on textbooks for the fall term was recorded for a sample of five hundred university students. The mean expenditure was calculated to be $500 and the median expenditure was calculated to be $425. Which of the following interpretations of the median is correctGroup of answer choices50% of the students sampled had textbook costs equal to $42550% of the students sampled had textbook costs that were less than $425The most frequently occurring textbook cost in the sample was $425The average of the textbook costs sampled was $425
Question
The amount spent on textbooks for the fall term was recorded for a sample of five hundred university students. The mean expenditure was calculated to be 425. Which of the following interpretations of the median is correctGroup of answer choices50% of the students sampled had textbook costs equal to 425The most frequently occurring textbook cost in the sample was 425
Solution
The correct interpretation of the median is: 50% of the students sampled had textbook costs that were less than $425.
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