Also known as the Mid-Point
The median can be used with Ordinal Data, Interval Data and Ratio Data.
This average can be defined as the value in the middle of the distribution when sorted in to ascending order.
For small distributions this can be calculated manually but the formula is as follows:
Less affected by extreme values than the mean.
Not practical to order a large set of numbers into ascending order
Also if the number in the middle changes by a small amount then the median could also change.
If there are an even number of valus, then the two middle values are added together and divided by 2.
For more examples of this function please refer to the MEDIAN page.
The median divides an ordered distribution into half and in a similar way the quartiles divide it into four equal parts
For more details please refer to the QUARTLE page.
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