A life insurance agent found the following data for distribution of ages of 100 policy holders. Calculate the median age, if policies are given only to persons having age 18 years onwards but less than 60 year.
Solution:
Number of policy holders = 100
Cumulative frequency greater than
is 78
So, median class = 35-40
Median
where, l = lower limit of median class = 35
n = number of observations = 100
cf = cumulative frequency of class preceding the median class = 45
f = frequency of median class = 33
h = class size (assuming class size to be equal) = 5
Median
years
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