To find the median of the given list, we need to first order the numbers from smallest to largest:
32, 40, 48, 52, 62, 63, 70, 70, 75, 81
There are 10 numbers in the list, which is an even number, so we need to find the average of the two middle numbers: 62 and 63.
Median = (62 + 63) / 2 = 62.5
The median number of students checking out books in the library in a 10-day period is 62.5. It means that half of the days, the number of students checking out books was less than 62.5, and half of the days, the number of students checking out books was more than 62.5. It gives us a good idea of the central tendency of the data, and helps us understand the typical number of students who check out books from the library during a 10-day period.