3. In statistics and probability
theory, the median is the numerical value
separating the higher half of a
data sample, a population, or a probability
distribution, from the lower half.
The median of a finite list of numbers can
be found by arranging all the observations
from lowest value to highest value and
picking the middle one.
(e.g., the median of {3, 3, 5, 9, 11} is 5)
Median
4.
5. (i) Simplicity: It is very easy to calculate and is
readily understood.
(ii) Unaffected by Extreme Values: Median is not
affected by the extreme values. It is independent of
the range of series.
(iii) Graphic Measurement: Median can be
measured graphically.
Merits
6. (iv) Qualitative Suitability: Median serves as the
most appropriate average to deal with qualitative
data.
(v) Certainty: Median value is always certain and
specific value in the series.
(vi) Typical Observations: Median is often used to
convey the typical observation. It is primarily affected
by the number of observations rather than their size.
Merits
7. (i) Lacks Representative ness: Median does not
represent the measure of such series of which
different values are wide apart from each other.
(ii) Erratic: Median is erratic if the number of items is
small.
(iii) Incapable of Algebraic Treatment: Median is
incapable of further algebraic treatment.
Demerits
8. (iv) Effect of Fluctuations: Median is very much
affected by the sampling fluctuations.
(v)For computing median data needs to be arranged
in ascending or descending order.
(vi) It is not accurate when the data is not large.
Demerits
9. Individual series
Make the data series in ascending or descending
format.
Find median item no. by the formula:
Median item no. = N+1 th term
2
Find value of median considering relevant
median item no.
Calculation of Median
10. Discrete series
Calculate the cf for the data series.
Find median item no. by the formula:
median item no. = N+1 th term
2
Find the value of median considering relevant
median item no. in cf.
Calculation of Median
11. Continuous series
Calculate cf for the data series.
Find median item no. by the formula:
median item no. = N
2
Find value of median by the formula:
M= l1 + i (m-c)
f
Calculation of Median
