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
Bernoulli's Theorem If a trial of an experiment can result in success  with probability p and failure with probability q (i.e.1-p) the probability of exactly r success in n tri

Using Chi Square Test when more than two Rows are Present   To understand this, let us consider the contingency table shown below. It gives us the information about the stage

The data le for this assignment is brain-body-wts.txt, which lists the averages brain weights (gm) and body weights (kg) for a number of animal species. Your task is to t an appr

Admixture in human populations The inter-breeding amongst the two or more populations which were previously isolated from each other for the geographical or the cultural reason

Introduction to Probability A student is considering whether she should enroll in an MBA educational program offered by a well-known college. Among othe

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

Let X 1  and X 2  be two independent populations with population means μ 1  and  μ 2  respectively. Two samples are taken, one from each population, of sizes n 1  and n 2  re

The investor has constant wealth 1 and is o?ered to invest in shares of a project that either gains 3=2 or loses 1 with equal probabilities. Therefore, if the investor obtains sha