Substituting into the formula

# Substituting into the formula - 17th measure therefore the...

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Substituting into the formula:  Therefore, the average price of items sold was about \$15.19. The value may not be the exact mean  for the data, because the actual values are not always known for grouped data. Median for grouped data As with the mean, the median for grouped data may not necessarily be computed precisely because  the actual values of the measurements may not be known. In that case, you can find the particular  interval that contains the median and then approximate the median. Using Table 3, you can see that there is a total of 32 measures. The median is between the 16th and
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Unformatted text preview: 17th measure; therefore, the median falls within the \$11.00 to \$15.99 interval. The formula for the best approximation of the median for grouped data is where L is the lower class limit of the interval that contains the median, n is the total number of measurements, w is the class width, f med is the frequency of the class containing the median, and Σ f b is the sum of the frequencies for all classes before the median class....
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