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04/07/2021 12:17 pm
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The Life insurance agent found the following data for the distribution of ages of 100 policyholders. Calculate the median age, if policies are given only to the persons whose age is 18 years onwards but less than 60 years.
Age (in years) - Number of policyholder
Below 20 → 2
Below 25 → 6
Below 30 → 24
Below 35 → 45
Below 40 → 78
Below 45 → 89
Below 50 → 92
Below 55 → 98
Below 60 → 100
1 Answer
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04/07/2021 12:19 pm
Given data: n = 100 and n/2 = 50
Median class = 35-45
Then, l = 35, cf = 45, f = 33 & h = 5
Median = \(l + (\frac{\frac{n}{2} - C_f}{f}) \times h\)
Median = 35+((50-45)/33) × 5
= 35 + (5/33)5
= 35.75
Therefore, the median age = 35.75 years.