The following histogram represents the distribution of acceptance rates (percent accepted) among 25 business schools in 2004. In each class interval, the left endpoint is included but not the right, so the class intervals are 10 ≤ rate < 15, 15 ≤ rate < 20, etc. What is the median acceptance rate?

a. just above 30%
b. just below 30%
c. 20%
d. 40%

Explanation:

Please, see attached the histogram that represents the distribution of acceptance rates (percent accepted) among 25 business schools in 2004.

The median is the value that separates the lower 50% from the upper 50% of the data.

Since there are 25 business schools, the middle value is the number 13.

The height of each bar is the frequency or number of business school for that acceptace rate:

Then, the 13th value is on the next bar, the fifth bar.

The fifth bar has acceptance rates 25  ≤ rate < 30.

That means that the median acceptance rate is greater than or equal to 25 and less than 30.

Thus, the choice is the option b. just below 30%.