Login

Create Account
Customer Service Chat
+14156709189
info@expertsmind.com
Submit Homework/Assignment
Get quote & make Payment
Get Solution
Advantages of median, Applied Statistics
Advantages
It is especially useful in case of openend 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.
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.
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.
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.
The value of median can be determined graphically, whereas the value of mean cannot be graphically ascertained.
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 clearcut meaning and makes the median a measure that can be easily explained.
Posted Date: 9/14/2012 2:07:47 AM  Location : United States
Ask an Expert
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
Write your message here..
Related Questions
Quantitative and qualitative methods for forecasting sales, OmegaPlus Pty...
OmegaPlus Pty.Ltd. is a chain of Health Food stores operating in Australia: with 12 stores across Sydney, Melbourne and Brisbane. OmegaPlus has recently appointed a new CEO: San
CERTIFICATE OF AIRWORTHINESS FOR EXPORT, CERTIFICATE OF AIRWORTHINESS FOR E...
CERTIFICATE OF AIRWORTHINESS FOR EXPORT When aircraft manufacturers go into series production of a new type of aircraft, then obviously they are hopeful of world wide sales. Sim
Probability distribution and sampling distribution , a 100 squash balls are...
a 100 squash balls are bounce from height of 100 inches with average height 30 inch with standard deviation 3/4 inch. a ball is fast if bounce above 32 inch. what is chance of gett
Regression and anova, The first step in this case is to ensure that you ar...
The first step in this case is to ensure that you are adequately clear on the General Linear Model and its relationship to both ANOVA and regression. The distinction is approxim
Disadvantages of mode, Disadvantages The value of mode cannot always...
Disadvantages The value of mode cannot always be determined. In some cases we may have a bimodal series. It is not capable of algebraic manipulations. For example, from t
Histogram, Histogram: It is generally used for charting continuous fre...
Histogram: It is generally used for charting continuous frequency distribution. In histogram, data are plotted as a series of rectangle one over the other. Class intervals
Forward selection model, how to find mse from ssr table not the anova table...
how to find mse from ssr table not the anova table
Calculate mean and standard deviation, Select and generate your assignment ...
Select and generate your assignment portfolio. The S&P/ASX 200 index is comprised of several subindices, including the following: 0) XPJ: The S&P/ASX 200 AREIT Index 1) XDJ
Chi square test as a distributional goodness of fit, Chi Square Test as a D...
Chi Square Test as a Distributional Goodness of Fit In daytoday decision making managers often come across situations wherein they are in a state of dilemma about the applica
Analysis of covariance (ancova), Analysis of covariance (ANCOVA) It is ...
Analysis of covariance (ANCOVA) It is initially used for an expansion of the analysis of variance which permits to the possible effects of continuous concomitant variables (suc
Assignment Help
Accounting Assignment Help
Economics Assignment Help
Finance Assignment Help
Statistics Assignment Help
Physics Assignment Help
Chemistry Assignment Help
Math Assignment Help
Biology Assignment Help
English Assignment Help
Management Assignment Help
Engineering Assignment Help
Programming Assignment Help
Computer Science Assignment Help
ExpertsMind Services
Online Tutoring
Projects Assistance
Exam Preparation
Coursework Help
Programming Help
IT Services
Why Us ?
~Experienced Tutors
~24x7 hrs Support
~Plagiarism Free
~Quality of Work
~Time on Delivery
~Privacy of Work