Financial Risk Manager Part 1

The median is calculated by first sorting the data in ascending order:

Since there are 6 observations (even number), the median is the average of the two middle values:

$\text{Med}(x) = \frac{1}{2} \left[ x_{\frac{6}{2}} + x_{\frac{6}{2}+1} \right] = \frac{1}{2}[x_3 + x_4] = \frac{1}{2}[2800 + 3800] = 3,300$

The third and fourth values in the sorted dataset are $2,800 and$3,800, so the median is $3,300.