Median Calculation:
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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.
The median is calculated by:
Steps:
Details: Median is preferred over mean when:
Tips:
Q1: What's the difference between median and mean?
A: Mean is the average (sum divided by count), while median is the middle value. Median is less affected by outliers.
Q2: When should I use median instead of mean?
A: Use median for skewed distributions or when outliers are present. Use mean for normally distributed data.
Q3: How does median handle even number of values?
A: For even counts, the median is calculated as the average of the two middle numbers in the sorted list.
Q4: Can median be calculated for non-numeric data?
A: Yes, median can be found for ordinal data (data that can be ranked), but not for nominal categories.
Q5: Why is median called a robust statistic?
A: Because it's resistant to outliers and extreme values that might dramatically affect the mean.