CLEP Marketing

Answer: D -In a marketing research plan, a team seeks to find out the annual income figure above which 50% of residents in a city earn. This figure is referred to as a median. A median is a useful statistical figure calculated from a data set and reflecting a numerical value whereby 50% of the data falls above and below. Median figures are instrumental in marketing research because they shed light on such information as annual wages, home prices, number of formal school years, and expenditures.