Positions of the median and the quartiles (HELP)

The National Association of College and University Business Officers collects data on college endownments. In 2004, 741 colleges and universities reported the value of their endownments. When the endowment values are arranged in order, what are the positions of the median and the quartiles in this ordered list?


I'm confused.....

RicanGurl said:

The National Association of College and University Business Officers collects data on college endownments. In 2004, 741 colleges and universities reported the value of their endownments. When the endowment values are arranged in order, what are the positions of the median and the quartiles in this ordered list?

I'm confused.....

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By which part are you confused? You have the definitions (that you learned in class, and can review in your book and your class notes) for "median" and "quartiles". And the definitions explain where these values are located on an ordered list. So where are you stuck?

Please be specific. Thank you!

Eliz.

I don't have an ordered list? what ordered list do they mean? I have nothing to work with? all I know is, 741 colleges....

Dear RicanGurl,

The median is the middle number of an ordered list. If there is an EVEN number of data points, then the median is the AVERAGE of the two middle numbers. If there is an ODD number of points, the median is the middle number. You have 741 data points (terms).

My guess for the answer for the position of the median is what numbered term it is at. For example, let's say there were only 5 colleges instead of 741. The position of the median would be the 3rd term. The position of the lower quartile would be halfway between the 1st and 2nd terms. The position of the upper quartile would be halfway between the 4th and 5th terms.

What did I do to get the middle term of 5 terms? I divided 5 by 2 then added 0.5 to get 3. The middle term of 5 terms is the third term.

Think about this simpler example to help you find the terms that the quartiles are between for your problem.

RicanGurl said:

what ordered list do they mean?

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The ordered list that is mentioned in the exercise.

RicanGurl said:

I have nothing to work with? all I know is, 741 colleges....

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So you do have something to work with: the fact that the ordered list contains 741 data points.

Now use this fact, along with the definitions pointed out earlier, to answer the question.

Eliz.