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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 500andthemedianexpenditurewascalculatedtobe500 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 4255042550% of the students sampled had textbook costs that were less than 425The most frequently occurring textbook cost in the sample was 425Theaverageofthetextbookcostssampledwas425The average of the textbook costs sampled was 425

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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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