Advantages of median, Applied Statistics

Advantages

  1. It is especially useful in case of open-end classes since only the position and not the values of items must be known. The median is also recommended if the distribution has unequal classes, since it is easier to compute than the mean.
  2. It is not influenced by the magnitude of extreme deviations from it. For example, the median of 10, 20, 30, 40 and 150 would be 30 whereas the mean is 50. Hence very often when extreme values are present in a set of observations, the median is a more satisfactory measure of the central tendency than the mean.
  3. In markedly skewed distributions such as income distributions or price distributions where the arithmetic mean would be distorted by extreme values, the median is especially useful. Consequently, the median income for some purposes can be regarded as a more representative figure, for half the income earners must be receiving at least the median income.
  4. It is the most appropriate average in dealing with qualitative data, i.e. where ranks are given or there are other types of items that are not counted or measured, but are scored.
  5. The value of median can be determined graphically, whereas the value of mean cannot be graphically ascertained.
  6. Perhaps the greatest advantage of median is, however, the fact that the median actually does indicate what many people incorrectly believe the arithmetic mean indicates. The median indicates the value of the middle item in the distribution. This is a clear-cut meaning and makes the median a measure that can be easily explained.

Posted Date: 9/14/2012 2:07:47 AM | Location : United States







Related Discussions:- Advantages of median, Assignment Help, Ask Question on Advantages of median, Get Answer, Expert's Help, Advantages of median Discussions

Write discussion on Advantages of median
Your posts are moderated
Related Questions
Test for Equality of Proportions For example, we may want to test whether the percentage of smokers (p 1 ) among the males equals the percentage of female smokers (p 2 ). W

The Harmonic Mean is based on the reciprocals of numbers averaged. It is defined as the reciprocal of the arithmetic mean of the reciprocal of the given individual observations. Th

a) List down several measures of central tendency and define the difference among them? b) What do you mean by confidence interval, and why it is useful? What is a confidence lev

(1) What values can the response variable Y take in logistic regression, and hence what statistical distribution does Y follow? The response variable can take the value of either

Hi There, I have a question regarding R, and I am wondering if anyone can help me. Here is a code that I would like to understand: squareFunc g f(x)^2 } return(g) } sin

what are the challenges affecting population census in developing countries

Zinc is a trace element and it is important in wound healing, building up the immune system and DNA synthesis. The data in Table 1 represents the zinc intake (in milligrams) for a

You are going to purchase a part from a specialty vendor.  Your company needs a C p of at least 1.67 on a critical dimension of the part.  The dimensional specification for this p

Classification of Universe The universe may be classified either on the basis of number of units and on the basis   of existence of units as is clear from the following chart :

Of the 6,325 kindergarten students who participated in the study, almost half or 3,052 were eligible for a free lunch program. The categorical variable sesk (1 == free lunch, 2 = n