What is Median?
A Median is a middle value for sorted data. The sorting of the data can be done either in ascending order or descending order. A median divides the data into two equal halves.
The formula to calculate the median of the number of terms if the number of terms is even is shown in the image below:
The formula to calculate the median of the number of terms if the number of terms is odd is shown in the image below:
Median Symbol
The letter “M” is commonly used to represent the median of a dataset, whether it’s for a population or a sample. This notation simplifies the representation of statistical concepts and calculations, making it easier to understand and apply in various contexts. Therefore, in Indian statistical practice, “M” is widely accepted and understood as the symbol for the median.
Mean, Median and Mode
Mean, Median, and Mode are measures of the central tendency. These values are used to define the various parameters of the given data set. The measure of central tendency (Mean, Median, and Mode) gives useful insights about the data studied, these are used to study any type of data such as the average salary of employees in an organization, the median age of any class, the number of people who plays cricket in a sports club, etc.
Let’s learn more about the Mean, Median, and Mode Formulas, Examples, and FAQs in this article.
Table of Content
- Measures of Central Tendency
- What are Mean, Median, and Mode?
- What is Mean?
- What is Median?
- What is Mode?
- Symbol of Mode
- Relation between Mean Median Mode
- What is Range?
- Differences between Mean, Median and Mode
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