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Statistics - Interpolation

I think this is the right place to post an AS Statistics question?

Hi,

Interpolation wasn't explained to me at all by my teacher, he just expects us to know :confused:

Anyway, could someone please "use interpolation to find an estimate for the median wage"?

Its from this table:

If it were possible, could you give a step by step method?

I know I'm asking so much, but I would literally love you forever...

If you can't be bothered to do it, maybe a few hints.

Thanks everyone :biggrin:

Reply 1

markmat

It looks like the easiest way to tackle the question is by considering the cumulative distribution function (CDF). Then the given data would read: CDF(174) = 0, CDF(225)=4/65, CDF(300)=(4+8)/65, etc. Now you need to interpolate CDF and then find it's inverse from 0.5

Good luck

Reply 2

markmat

Now I have a better idea: lets denote by f the inverse of the CDF, then the given data is f(0)=174, f(4/65)=225, f(12/65)=300, etc. Now interpolate and calculate f(0.5).

Reply 3

toblerone93

markmat

Now I have a better idea: lets denote by f the inverse of the CDF, then the given data is f(0)=174, f(4/65)=225, f(12/65)=300, etc. Now interpolate and calculate f(0.5).