The median is a measure of central tendency of a distribution and represents the midpoint of an ordered dataset. Unlike the average, which considers every value in the dataset, the median is influenced by the position of the data and not their actual values. This makes the median a more robust measure than the average, as it is less sensitive to outliers.
To calculate the median, we follow the steps:
Suppose we have the following series of numbers: 4, 8, 6, 5, 3, 2, 8, 9, 2, 5.
The median gives us a valuable measure of central tendency that gives a more complete view of our data, especially when combined with other measures such as the average and mode. Moreover, as the median is less sensitive to extreme values, it can in many cases provide a more accurate picture of the 'typical' value in a dataset.
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