Solution: The formula for mean is:
[tex]Mean=\frac{\sum x}{n}[/tex]
Where:
[tex]\sum x[/tex] is the sum of given observations
[tex]n[/tex] is the number of observations
[tex]\sum x=87.12[/tex]
[tex]n=50[/tex]
[tex]\therefore Mean =\frac{87.12}{50}= 1.74[/tex] rounded to two decimal places
To find the median, we need to first arrange the data in ascending order but we are already given the data in ascending order.
Therefore, the median is:
[tex]Median=\left(\frac{n+1}{2} \right)^{th} item[/tex]
[tex]=\left(\frac{51}{2} \right)^{th} item[/tex]
[tex]=25.5^{th} item[/tex]
[tex]=1.52+0.5(1.54-1.52)[/tex]
[tex]=1.52+0.01[/tex]
[tex]=1.53[/tex]
Therefore, the median = 1.53