What is the value of the median if the data set is {3, 1, 4, 2, 5}?

To find the median of a data set, you first need to arrange the numbers in ascending order. For the data set {3, 1, 4, 2, 5}, sorting the values gives you {1, 2, 3, 4, 5}.

The median is defined as the middle value in a sorted list of numbers. Since there are five numbers in this data set, which is an odd quantity, the median will be the value located at the third position in the sorted list.

In the sorted set, 1 is the first number, 2 is the second, and 3 is the third. Therefore, the median is the number 3, which is the middle value in this ordered list. This is why the correct answer is 3.