What is the median of the data set {3, 7, 8, 12, 14}?

To find the median of a data set, you first need to order the numbers in increasing order, which in this case are already arranged: {3, 7, 8, 12, 14}.

The median is the middle value in a data set. To determine the median, you follow these steps:

1. Count the number of values in the data set. There are five values in this set.

2. Since there is an odd number of values, the median is found by selecting the middle number. For five values, the middle position is the third value when listed in order.

3. In this ordered data set, the third value is 8.

Therefore, the median of the data set {3, 7, 8, 12, 14} is 8, making it the correct answer. This middle value reflects that half of the numbers are lower and half are higher, which is what the median represents in a data set.