Given that, the monthly incomes of 8 members are:
₹8000, ₹9000, ₹8200, ₹7900, ₹8500, ₹8600, ₹7700, ₹60000
Arrange the given observations in ascending order.
Here, we have two middle most values 8200 and 8500.
In this case, Median = Average of two middle most values
8200 + 8500 16700
= \(\frac {8200+8500}{2} \frac {16700}{2}\) = ₹8,350
