Business Degree Certification Practice Test

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Prepare for your Business Degree Certification Test with our comprehensive quiz. Utilize flashcards, multiple choice questions, hints, and explanations to build your proficiency. Excel in your exam!

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What is the median of the set: 26, 30, 24, 32, 32, 31, 27, and 29?

32
29
30
29.5

The correct answer is: 29.5

To determine the median of a set of numbers, it is essential first to arrange the numbers in ascending order. For the given set: 26, 30, 24, 32, 32, 31, 27, and 29, the first step is to sort these numbers: 24, 26, 27, 29, 30, 31, 32, 32. Next, we identify the median. The median is the middle value of a dataset. In situations where there is an even number of observations, as in this case with eight numbers, the median is calculated by taking the average of the two middle numbers. Here, the middle values in the ordered list are the fourth and fifth numbers (29 and 30). To find the median, we compute: (29 + 30) / 2 = 29.5. Thus, the correct value for the median of the set is 29.5. This option reflects the correct calculation and method for finding the median, highlighting how to address an even-sized dataset by averaging the two middle values.