The median is 116 which is the balance of a teeter totter with respect to location, i.e. 50% of the data is below and 50% of the data is above. There are the same number of numbers below as above. To see whether the average is dragged up, down or remains the same, we look at whether the data is balanced about the median when considering the weights of distance/span. For instance, look at the next closest numbers 115 below 116 and 120 above 116. The first is 1 away from the median, while the second is 4 away from the median. The 120 has a greater distance/span, so it pulls the average up a bit.
As we continue to examine the span of the numbers, notice that the largest distance away from the numbers below the median is 116-40=76, while the largest distance away from the numbers above is 1200-116=1084. When compared with the numbers below, the numbers above tip the teeter totter that way. So the average is higher than the median (it is dragged up to 177.64).

In the picture, it is the same number of items on both sides, but some of them (a bunch of bananas is one item) weigh more, like 1200 does.