The following table shows the Income (in lakh) and percentage (%) profit of a company over the six years from 2017 to 2022. Based on the data in the table, answer the questions that follow.
Year-wise Income and Profit of a Company
| Year | Income (in ₹ lakh) | Profit (%) |
| 2017 | 120 | 7.5 |
| 2018 | 160 | 15 |
| 2019 | 130 | 22.5 |
| 2020 | 170 | 17.5 |
| 2021 | 190 | 20 |
| 2022 | 150 | 27.5 |
The median income of the company in the six years from 2017 to 2022 was
Correct Answer :
155 lakh
Solution :
The correct option is 155 lakh.
To find the median income of the company over the six years from 2017 to 2022, we first extract the income values for each year from the given table:
- 2017: 120 lakh
- 2018: 160 lakh
- 2019: 130 lakh
- 2020: 170 lakh
- 2021: 190 lakh
- 2022: 150 lakh
Next, we arrange these income values in ascending order:
120, 130, 150, 160, 170, 190
The number of observations (years) is , which is an even number.
For an even number of observations, the median is calculated as the average of the two middle terms, which are the and the terms.
Here, the middle terms are the 3rd and 4th values in our sorted list:
- 3rd term = 150 lakh
- 4th term = 160 lakh
Now, we calculate the average of these two middle values to find the median:
Therefore, the median income of the company was 155 lakh.
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