Question

The times (in minutes) that several underwriters took to review applications for similar insurance coverage are 50, 230, 52, and 57. What is the median length of time required to review an application?

109.0
141.0
97.25
54.5

Answer 1

The median length of time required to review an application is 54.5 minutes.

Explanation:

The times (in minutes) that several underwriters took to review applications for similar insurance coverage are 50, 230, 52, and 57.

Arranging in ascending order we get

50,52,57,230

Median length of time =
`(52+57)/(2)=54.5`

Hence, the median length of time required to review an application is 54.5 minutes.

Answer 2

The answer is 54.5

Explanation:

The median of a set of observations is the value in the middle in case there is an uneven number of observations or the average between the two values in the middle.

First we arrange the times from less time to longer times.

50 - 52 - 57 - 230 .

The values in the middle are 52 - 57

And the average between this two values is 54.5. Thus that is the median legth of time.