In Richie's company 60% of the employees earn less than $50,000 a year, 60% of the employees earn ...
In Richie's company 60% of the employees earn less than $50,000 a year, 60% of the employees earn more than $40,000 a year, 11% of the employees earn $43,000 a year and 5% of the employees earn $49,000 a year. What is the median salary for the company?
Answer/Solution
43.0
Steps/Work
In Richie's company 60% of the employees earn less than $50,000 a year, 60% of the employees earn more than $40,000 a year, 50 and 51 employee will be each 43K. hence median = (43K+43k)/2=A