What Median is
Median is a measure of central tendency, which is used to measure the “middle” value in a set of numbers. It is calculated by arranging the values in order from smallest to largest and then taking the middle value.
Steps for calculating Median:
- Arrange the values in a list from smallest to largest.
- If there is an odd number of values, the median is the middle value.
- If there is an even number of values, the median is the average of the two middle values.
- To calculate the median, add the two middle values together and divide by two.
Examples
- Calculating the median salary of a company’s employees.
- Determining the median age of a population.
- Working out the median price of a home in a particular area.
- Finding the median score on a standardized test.
- Estimating the median number of hours worked by a group of workers.