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JAMB Economics 2007 Question 7

Question 7

Tools of Economic Analysis

Use the table below to answer questions 6 and 7. The table shows the wage distribution of workers.
Class mark (₦): 2 | 5 | 8 | 11 | 14
Frequency: 2 | 3 | 1 | 3 | 1
What is the median wage?

  1. A.₦11.00
  2. B.₦8.00
  3. C.₦6.50
  4. D.₦5.00
Show the answer and explanation

Answer: C (₦6.50)

Explanation

Listing the 10 wages in order (2, 2, 5, 5, 5, 8, 11, 11, 11, 14), the middle two are 5 and 8, so the median = (5 + 8) ÷ 2 = ₦6.50.