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Question

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 years.
Age (in years)Number of policy holders
Below 202
Below 256
Below 3024
Below 3545
Below 4078
Below 4589
Below 5092
Below 5598
Below 60100

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Solution

Median of a data set with 100 data points is found as the mean of the 50th and 51st data point when arranged in ascending order.
In the given table, both occurs in the range of 3540.
Hence, median age range of policy holders is 3540 year.

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