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 50^th 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

Ask an Expert

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

Write discussion on Median
Your posts are moderated

Write your message here..

Related Questions

Problem on standard deviation, Your organization purchases bottles of ... Your organization purchases bottles of a popular commercial solvent for resale.  Each bottle is labeled as containing 32 fluid ounces of the solvent.  Your cont

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

Determine the optimal order size, The Truly Canadian Restaurant stocks a pr... The Truly Canadian Restaurant stocks a private red table wine that it purchases from a local winery in the Niagara Falls region. The daily demand for the wine at the restaurant is

Regression, Regression line drawn as Y=C+1075x, when x was 2, and y was 239... Regression line drawn as Y=C+1075x, when x was 2, and y was 239, given that y intercept was 11. calculate the residual

Time series analysis, limitations of time series analysis limitations of time series analysis

QHA, Your employer, Quick Hit Agency (QHA), is a debt collections agency. T... Your employer, Quick Hit Agency (QHA), is a debt collections agency. The company specializes in collecting small accounts. QHA does not deal in large accounts and does not take on

Evaluate the probability, "MagTek" electronics has developed a smart phone ... "MagTek" electronics has developed a smart phone that does things that no other phone yetreleased into the market-place will do. The marketing department is planning to demonstrate

X-bar charts, First we look at these charts assuming that we know both the ... First we look at these charts assuming that we know both the mean and the standard deviation of the process, that is  μ and  σ . These values represent the acceptable values (bench

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

Mode for grouped data, Grouped Data For calculating mode from a... Grouped Data For calculating mode from a frequency distribution, the following formula   Mode = L mo +  x W where,