What is the median of the quarterly growth rates 2%, -1%, 3%, and 4%?

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Multiple Choice

What is the median of the quarterly growth rates 2%, -1%, 3%, and 4%?

Explanation:
To find the median, line up the growth rates from smallest to largest and take the middle value. When there are four numbers, the median is the average of the two central values. Arrange the data: -1%, 2%, 3%, 4%. The two middle values are 2% and 3%. Their average is (2% + 3%) / 2 = 2.5%. So the median growth rate is 2.5%. Choosing 2% or 3% would use only one of the central values, not the middle of all data, and -1% is not central.

To find the median, line up the growth rates from smallest to largest and take the middle value. When there are four numbers, the median is the average of the two central values.

Arrange the data: -1%, 2%, 3%, 4%. The two middle values are 2% and 3%. Their average is (2% + 3%) / 2 = 2.5%.

So the median growth rate is 2.5%. Choosing 2% or 3% would use only one of the central values, not the middle of all data, and -1% is not central.

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