Median, Applied Statistics

The median, as the name suggests, is the middle value of a series arranged in any of the orders of magnitude i.e. ascending or descending order.

As distinct from the arithmetic mean which is calculated from the value of every item in the series, the median is what is called a positional average. The term 'position' refers to the place of a value in the series. The median is just the 50th percentile value below which 50% of the values in the sample fall. The object of median is, therefore, not merely to fix a value that shall be representative of a set, but also to establish a dividing line separating the higher from the lower values.

 

Posted Date: 9/14/2012 1:49:21 AM | Location : United States







Related Discussions:- Median, Assignment Help, Ask Question on Median, Get Answer, Expert's Help, Median Discussions

Write discussion on Median
Your posts are moderated
Related Questions
Consider the following linear regression model:      a) What does y and x 1 , x 2 , . . . . x k represent?      b) What does β o , β 1 , β 2 , . . . . β k represent?

X 110 120 130 120 140 135 155 160 165 155 Y 12 18 20 15 25 30 35 20 25 10

Using log(x1), log(x2) and log(x3) as the predictors, do pair wise scatterplots of all pairs of variables (including the response) and comment (use the pairs function). Do you thin

Statistical Errors              Statistical data are obtained either by measurement or by observation. Hence to think of perfect accuracy is only a delusion or a myth, It is no

There are situations where none of the three averages is fully satisfactory. For example, if the number of items in a series is very small, none of these av

The following table shows the results of fitting a linear regression model of starting annual salaries on a constant, GPA (4 point scale), and a variable (Metrics =1) indicating wh

Multivariate analysis of variance (MANOVA) is a technique to assess group differences across multiple metric dependent variables simultaneously, based on a set of categorical (non-

These techniques are applied when the rows and the columns of the data table represent the same units and when the measure is a disiance or a similarity. The goal of the analysis i

Chi Square Test as a Distributional Goodness of Fit In day-to-day decision making managers often come across situations wherein they are in a state of dilemma about the applica

A study was designed to investigate the effects of two variables - (1) a student's level of mathematical anxiety and (2) teaching method - on a student's achievement in a mathemati