Median and Modal Profits Analysis
Understanding the Data:
- The data provided shows the number of firms with profits below certain amounts.
- The profits are categorized into ranges of below 5, below 10, below 15, below 20, below 25, and below 30.

Finding the Median Profit
Calculating the Median:
- The median profit is the middle value when the profits are arranged in ascending order.
- To find the median profit, we need to determine the cumulative frequency of the data.
Arranging the Data:
- Below 5: 10 firms
- Below 10: 25 firms
- Below 15: 45 firms
- Below 20: 55 firms
- Below 25: 62 firms
- Below 30: 65 firms
Identifying the Median:
- The median profit falls in the 33rd position ((65+1)/2) when the data is arranged.
- The median profit range is below 15, as the 33rd firm falls in this category.

Finding the Modal Profit
Calculating the Mode:
- The modal profit is the profit range with the highest frequency in the data.
- In this case, the profit range below 30 has the highest frequency of 65 firms.
Identifying the Mode:
- The modal profit range is below 30, as it has the highest number of firms.

Conclusion
In conclusion, the median profit range is below 15, as it falls in the middle of the data when arranged. The modal profit range is below 30, as it has the highest frequency of firms. These measures provide valuable insights into the distribution of profits among the firms in the given data.