1. What is Median Income?

The median income is the middle value when all incomes are sorted in order. It represents the point where half of the population earns more and half earns less, making it a robust measure of central tendency that isn't skewed by extreme values.

2. How to Calculate Median Income

The calculation follows these steps:

Example Calculation:

• For incomes: 30,000, 40,000, 50,000 → Median is 40,000 (middle value)
• For incomes: 30,000, 40,000, 50,000, 60,000 → Median is 45,000 (average of 40,000 and 50,000)

3. Why Use Median Instead of Average?

Advantages: Median is less affected by extremely high or low values, providing a better representation of typical income. For example, in an area with mostly $50,000 incomes but one billionaire, the average would be misleading while the median would accurately reflect the typical income.

4. Using the Calculator

Instructions: Enter income values separated by commas. The calculator will sort them and find the median. Values can be in any currency - the calculator only processes the numerical values.

5. Frequently Asked Questions (FAQ)

Q1: How is median income different from average income?
A: Average income sums all incomes and divides by count, while median income is the middle value. Median is generally more representative of typical income.

Q2: When should I use median income instead of average?
A: Always use median when dealing with income data as it's less affected by outliers and skewed distributions.

Q3: What if I have an even number of data points?
A: The calculator automatically averages the two middle values when the count is even.

Q4: Can I include non-numeric values?
A: The calculator will automatically filter out any non-numeric values from your input.

Q5: How many income values can I enter?
A: There's no strict limit, but extremely large datasets may slow down the calculation.