Calculation:

The formula for mean is,

\(\overline{x}=\frac{\sum x}{n}\)

Substitute the values and nas 4 in the formula,

\(\overline{x}=\frac{1,200+700+6(400)+4(500)}{12}\)

\(\frac{6,300}{12} = 525\)

Thus, the mean wage is \(\$525\).

Median:

- If the data set consists of odd number of entries then the median is the middle value of the data.

- If the data set consists of even number of entries then the median is the mean of the middle vales in the data set.

Arrange the data in ascending order.

400, 400, 400, 400, 400, 400, 500, 500, 500, 500 700, 1,200

Here the number of observations is 12 which is an even number. Therefore the median is the average of the middle values of the data that is, \(6^{th}\ and\ 7^{th}\),

The \(6^{th}\) observation represents 400 and \(7^{th}\) observation represents 500. Therefore the median is, \(Median = \frac{400+500}{2}\)

\(= \frac{900}{2}= 450\)

Thus, the median wage is \(\$450\).

The formula for mean is,

\(\overline{x}=\frac{\sum x}{n}\)

Substitute the values and nas 4 in the formula,

\(\overline{x}=\frac{1,200+700+6(400)+4(500)}{12}\)

\(\frac{6,300}{12} = 525\)

Thus, the mean wage is \(\$525\).

Median:

- If the data set consists of odd number of entries then the median is the middle value of the data.

- If the data set consists of even number of entries then the median is the mean of the middle vales in the data set.

Arrange the data in ascending order.

400, 400, 400, 400, 400, 400, 500, 500, 500, 500 700, 1,200

Here the number of observations is 12 which is an even number. Therefore the median is the average of the middle values of the data that is, \(6^{th}\ and\ 7^{th}\),

The \(6^{th}\) observation represents 400 and \(7^{th}\) observation represents 500. Therefore the median is, \(Median = \frac{400+500}{2}\)

\(= \frac{900}{2}= 450\)

Thus, the median wage is \(\$450\).