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Median..

by uptowngirl92 » Tue Oct 20, 2009 6:39 pm
In a company 60% of the employees earn less than $50,000 a year, 60% of the employees earn more than $40,000 a year, 11% of the employees earn $43,000 a year and 5% of the employees earn $49,000 a year. What is the median salary for the company?
a) 43.000
b) 45.500
c) 46.000
d) 49.000
e) 50.000

Guys please explain this one throughly..
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by xcusemeplz2009 » Tue Oct 20, 2009 8:03 pm
IMO A

tot no 100(assume)
40<40000
11=43000
5=49000
40>50000

median is avg of 50th and 51st

50th person earning is 43000
and 51st's earning is 43000

so med is 43000

OA pls
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by uptowngirl92 » Tue Oct 20, 2009 8:22 pm
correct.could you please give a detailed explanation..?am getting stuck:(
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by ssuarezo » Tue Oct 20, 2009 8:23 pm
I agree: 43k. 5% is not enough to modify the 50th and 51st value
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by xcusemeplz2009 » Tue Oct 20, 2009 11:51 pm
uptowngirl92 wrote:correct.could you please give a detailed explanation..?am getting stuck:(
n a company 60% of the employees earn less than $50,000 a year, 60% of the employees earn more than $40,000 a year, 11% of the employees earn $43,000 a year and 5% of the employees earn $49,000 a year. What is the median salary for the company?
ASSUME TOTAL NO. AS 100

FROM THE INFO GIVEN
60 earn <50k => 40 earn more than 50k
60 earn >40k => 40 earn less than 40k
11 earn 43k
5 earn 49k

now make a no. line as given below:

---40<40k-----11=43k-------5=49k----40>50K------
we are left with 4 people that can be any where b/n 40k and 50k.
if it is b/n 40k and 43k then the value of 50th and 51st person will be 43000,and
if it is b/n 43k and 50k , then also value of 50th and 51st is 43k
now median of value of 100 item is median of of value of 50th and 51st item.i.e avg of 43000&43000
which is 43000.
HTH

the wordings of the q is making the thing a bit complicate ; but the key to solve this is just to find that what is the earning value for 50th and 51st person.
It does not matter how many times you get knocked down , but how many times you get up
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