Median for ungrouped data, Applied Statistics

Assignment Help:

If the data set contains an odd number of items, the middle item of the array is the median. If there is an even number of items, the median is the average of the two items. If the total of the frequencies is odd, say n, the value of the (n+1)/2th  item gives the median and when the total of the frequencies is even, say, 2n, then nth and (n + 1)th are two central items and the arithmetic mean of these two items gives the median. 

Example 

The following data relates to the sales figures of certain companies relating to the year 2000-2001:

Companies

Sales


ACC

1520

Andhra Valley

436

Excel Inds

228

Indian Hotels

239

Tata Hydro

292

Tata Power

734

Tata Tea

412

Voltas

980

Tomco

312

Tinplate Co.

256                                          

The median for the above data can be obtained as follows:

The series should first be arranged in an appropriate order. In the present case it is in descending order.

Company

Sales

Rank


ACC

1520

1

Voltas

980

2

Tata Power

734

3

Andhra Valley

436

4

Tata Tea

412

5

Tomco

312

6

Tata Hydro

292

7

Tinplate Co.

256

8

Indian Hotels

239

9

Excel Inds

228

10                                                               

Now, median is the mean of the 5th and the 6th items, i.e.  (412 + 312)/2 = 362.

Thus, the median sales value of the ten companies is 362.


Related Discussions:- Median for ungrouped data

Descriptive statistics for every stock, Simple Linear Regression One ca...

Simple Linear Regression One calculate of the risk or volatility of an individual stock is the standard deviation of the total return (capital appreciation plus dividends) over

Find a nash equilibrium, 2 bidders have identical valuations of an object f...

2 bidders have identical valuations of an object for sale. The value of the object is either 0; 50 or 100, with equal probabilities. The object is allocated to one of the bidders i

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

Box plots, This box plot displays the diversity wfood; the data ranges from...

This box plot displays the diversity wfood; the data ranges from 0.05710 being the minimum value and 0.78900 being the maximum value. The box plot is slightly positively skewed at

Calculate the seasonal indexes , The total number of overtime hours (in 100...

The total number of overtime hours (in 1000s) worked in a large steel mill was recorded for 16 quarters, as shown below. Year Quarter Overtime hour

Test for equality of two means, Let X 1  and X 2  be two independent po...

Let X 1  and X 2  be two independent populations with population means μ 1  and  μ 2  respectively. Two samples are taken, one from each population, of sizes n 1  and n 2  re

Determine market interest rate, The interest rate on the three year loan is...

The interest rate on the three year loan is 0.087. Whereas the interest rate on the two year loan is 0.085 as given in A. Suppose that the liquidity premium at t=1 is 0.002 and tha

Disadvantages of median, Disadvantages For calculating median it is ...

Disadvantages For calculating median it is necessary to arrange the data; other averages do not need any arrangement. Since it is a positional average, its value is not d

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