Chapter 2.2, Problem 2.27E

To determine

To Explain: the word that is “the median income”.

Explanation of Solution

Given:

The median income of U.S. households was $50233

The median is the centred data value of the sorted data set. It means that around 50% of the data values would be smaller than the median and around 50% of the data values would be larger than the median. The median income is $50233 which means that around 50% of the researchers has an income would be less than $50233 and around 50% of the researchers has an income would be higher than $50233.