Following are the lives in hours of 15 pieces of the components of aircraft engine.
Question:

Following are the lives in hours of 15 pieces of the components of aircraft engine. Find the median:

715, 724, 725, 710, 729, 745, 694, 699, 696, 712, 734, 728, 716, 705, 719

Solution:

First of all arranging the data in ascending order of magnitude, we have

$694,696,699,705,710,712,715,716,719,724,725,728,729,734,745$

Here, $N=15$, which is an odd number

Therefore, median is the value of

$\left(\frac{N+1}{2}\right)=\frac{15+1}{2}$

$=8^{\text {th }}$ observation

$=716$