The Mid-Range Example
The following data shows the NFL signing bonuses, the bonuses are in millions of dollars:
18 | 14 | 34.5 | 10 | 11.3 | 10 | 12.4 | 10 |
The smallest bonus is $10 million, and the largest bonus is $34.5 million so we calculate the midrange as:
\[\text{MR}=\frac{10+34.5}{2}=\frac{44.5}{2}=\text{\$22.25 million}\]
Notice that this amount is larger than seven of the eight amounts and is not typical of the average of the bonuses. The reason is that there is one very high bonus, namely, $34.5 million.