Median Formula:
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The median is the middle value in a sorted list of numbers. It's a measure of central tendency that divides the data set into two equal halves. Unlike the mean, the median isn't affected by extremely large or small values, making it useful for skewed distributions.
The median is calculated using these steps:
Step-by-Step:
Details: The median is particularly valuable when:
Tips:
Q1: When should I use median instead of mean?
A: Use median when your data is skewed or has outliers. Mean is better for normally distributed data.
Q2: Can median be used for categorical data?
A: Median is only meaningful for ordinal or numerical data. For nominal categories, mode is appropriate.
Q3: How does median compare to other measures of central tendency?
A: Median is less sensitive to outliers than mean but uses less information than mean. Mode shows most frequent value.
Q4: What if I have an even number of data points?
A: The median is calculated as the average of the two middle numbers in the sorted list.
Q5: Can median be calculated for grouped data?
A: Yes, but it requires interpolation within the median class interval.