Final answer:
The correct answer is option c) 41.5, which is found by arranging the set of numbers in ascending order and then averaging the two middle values.
Step-by-step explanation:
The correct answer is option c) 41.5. To find the median of the observations 29, 54, 43, 38, 40, 71, we first need to arrange the numbers in ascending order: 29, 38, 40, 43, 54, 71. Since there is an even number of observations, the median will be the average of the two middle numbers. In this case, those numbers are 40 and 43. To calculate the median, we add these two numbers together and divide by 2:
Median = (40 + 43) / 2
Median = 83 / 2
Median = 41.5
This means that the median value of the data set is 41.5, which is option c).