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 correct?
A) The average of the textbook costs sampled was $425
B) The most frequently occurring textbook cost in the sample was $425
C) 50% of the students sampled had textbook costs equal to $425
D) 50% of the students sampled had textbook costs that were less than $425

Question

Quizplus · Accepted Answer

The median is the value that separates the higher half from the lower half of a data sample, meaning 50% of the students had costs less than $425.

The Amount Spent on Textbooks for the Fall Term Was