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Statistics - new median weekly income of the 6 friends?











































There are 6 friends.

Their mean income is $500.00, and their median income is $325.00 per week.

The lowest paid friend loses his $300.00 a week job.

What is the new median weekly income of the 6 friends?

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Jul 08, 2012
Statistics - new median weekly income of the 6 friends
by: Staff


Answer:

6 friends, listed from lowest to highest salary (F₁ = friend with lowest salary)

F₁ = friend 1 (lowest salary) = $300 per week before losing the income.

F₂ = friend 2

F₃ = friend 3 (the average of F₃ & F₄ salaries is the median income)

F₄ = friend 4 (the average of F₃ & F₄ salaries is the median income)

F₅ = friend 5

F₆ = friend 6 (highest salary)

Remember that the Mean (average) of the salaries is the sum of all the salaries divided by 6. When F₁ loses his $300 per week job, the Mean will go down.

The Median Salary, however, refers to the middle salary. When the salaries are listed in order (from lowest to highest), the median is the center salary on the list.

The Median is the salary between the salaries earned by the top three friends and the salaries of the three lower earning friends.

There is an even number of friends (six friends). Therefore, the Median Salary is the average of the salaries for F₃ & F₄.

The Median Salary is unaffected by the loss of income for F₁.

The salaries for F₃ & F₄ are still the middle two salaries. They have not changed.



>>> the final answer:

The median income does not change. It is still $325 per week.



Thanks for writing.

Staff
www.solving-math-problems.com



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