How do you work out the Midpoint (x) for grouped data for the following: Daily T

Question

How do you work out the Midpoint (x) for grouped data for the following:

Daily Turn Over                 No of Days

500<750                                  5

750<1000                                8

1000<1250                              11

1250<1500                              28

1500<1750                               30

1750<2000                               18

Most times you take the 500<750 and just devide it in 2, but other excercises you dont do it, so I do not know how to get to the midpoint. Does it have to do with GROUPED data that the formula changes?

Explanation / Answer

We find the midpoint by averaging the largest and smallest possible value in each group becuase this is a turn over. If ages we will need to take care that we do use the correct largest and smallest possible values for that group. Use rounded to the nearest age. So the midpoint for each turn over is

Daily Turn Over No. of days Mid point 500-750 5 625 750-1000 8 875 1000-1250 11 1125 1250-1500 28 1375 1500-1750 30 1625 1750-2000 18 1875

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