Of the 13 employees in a certain department, 1 has an annual salary of $38,000, 2 have an annual salary of $45,000 each, 2 have an annual salary of $42,500 each, 3 have an annual salary of $40,000 each, and 5 have an annual salary of $48,500 each. What is the median annual salary for the 13 employees

The median annual salary for the 13 employees would be $45,000

Explanation:

In this question, we use the median formula which is shown below:

Median = (Number of employees + 1) : 2

= (13 + 1) : 2

= 14 : 2

= 7

So, the median value will be 7th value from the lowest income to the highest income

Rank wise income is shown below:

1. Annual salary $38,000 (1st)

2. Annual salary $40,000 (2nd to 4th)

3. Annual salary $42,500 (5th to 6th)

4. Annual salary $45,000 (7th to 8th)

5. Annual salary $48,500 (9th to 13th)

So, the median annual salary for the 13 employees would be $45,000 as it lies in the 7th to 8th value.