2751EconomicsMedium
Suppose that 40 percent of the voting population wish to spent Rs1,000 for artwork in City Hall, 25 percent wish to spent Rs20,000 and 35 percent wish to spend Rs 22,000 What is the median preferred outcome, the average preferred outcome and the modal preferred outcome?
ARs1,000; Rs14,333; Rs1,000
BRs20,000; Rs13,100; Rs1,000
CRs20,000; Rs20,000; Rs22,000
DRs1,000; Rs20,000; Rs22,000
Correct answer
B. Rs20,000; Rs13,100; Rs1,000
Explanation
The correct answer is Rs20,000; Rs13,100; Rs1,000.