The midpoint of a line segment joining points \( (x_1, y_1) \) and \( (x_2, y_2) \) is:
\[
\left( \frac{x_1 + x_2}{2}, \frac{y_1 + y_2}{2} \right)
\]
Given points (3, 4) and (7, -2):
\[
x = \frac{3 + 7}{2} = \frac{10}{2} = 5, \quad y = \frac{4 + (-2)}{2} = \frac{4 - 2}{2} = \frac{2}{2} = 1
\]
Thus, the midpoint is:
\[
\boxed{(5, 1)}
\]