Advantages of median, Applied Statistics

Assignment Help:

Advantages

  1. It is especially useful in case of open-end classes since only the position and not the values of items must be known. The median is also recommended if the distribution has unequal classes, since it is easier to compute than the mean.
  2. It is not influenced by the magnitude of extreme deviations from it. For example, the median of 10, 20, 30, 40 and 150 would be 30 whereas the mean is 50. Hence very often when extreme values are present in a set of observations, the median is a more satisfactory measure of the central tendency than the mean.
  3. In markedly skewed distributions such as income distributions or price distributions where the arithmetic mean would be distorted by extreme values, the median is especially useful. Consequently, the median income for some purposes can be regarded as a more representative figure, for half the income earners must be receiving at least the median income.
  4. It is the most appropriate average in dealing with qualitative data, i.e. where ranks are given or there are other types of items that are not counted or measured, but are scored.
  5. The value of median can be determined graphically, whereas the value of mean cannot be graphically ascertained.
  6. Perhaps the greatest advantage of median is, however, the fact that the median actually does indicate what many people incorrectly believe the arithmetic mean indicates. The median indicates the value of the middle item in the distribution. This is a clear-cut meaning and makes the median a measure that can be easily explained.


Related Discussions:- Advantages of median

Simple linear regression, We are interested in assessing the effects of tem...

We are interested in assessing the effects of temperature (low, medium, and high) and technical configuration on the amount of waste output for a manufacturing plant. Suppose that

Research tool, what are the characteristics of research tool?

what are the characteristics of research tool?

Uses of arithmetic mean, Uses Arithmetic mean is widely used beca...

Uses Arithmetic mean is widely used because of the following reasons: Mean is the simplest average to understand and easy to compute. It

Theoretical yield and actual yield, Write down the symbols and unit for the...

Write down the symbols and unit for the following: mass, molar mass, molar and molarity Write down the relationship between mass and molar mass and show that the units match.

Regression, why we use dummy variable

why we use dummy variable

Sensitivity and Specificity tests, The prevalence of undetected diabetes in...

The prevalence of undetected diabetes in a population to be screened is approximately 1.5% and it is assumed that 10,000 persons will be screened. The screening test will measure

Sampling error , Sampling Error  It is the difference between the value...

Sampling Error  It is the difference between the value of the actual population parameter and the sample statistic. Samples are used to arrive at conclusions regarding the p

Iterative convergence of the method, You are given the differential equatio...

You are given the differential equation dy/dx = y' = f(x, y) with initial condition y(0 ) 1 = . The following numerical method is also given: where  f n = f( x n , y n )

Histogram, Histogram: It is generally used for charting continuous fre...

Histogram: It is generally used for charting continuous frequency   distribution. In histogram, data are plotted as a series  of rectangle one over the other. Class intervals

ANOVA, Your company operates a machine shop, and, having heard you had expe...

Your company operates a machine shop, and, having heard you had experience in statistics and design of experiments, consulted you for your opinion on an experiment they want to run

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd