Median

 

Definition:

The median is a commonly used measure of the properties of a data set in statistics and probability theory.

The median is the value separating the higher half of a data sample, a population, or a probability distribution, from the lower half. For a data set, it may be considered as the "middle" value.

For example:

In the data set {1, 3, 3, 6, 7, 8, 9}, the median is 6, the fourth largest, and also the fourth smallest, number in the sample.

DEMONSTRATION:

1,3,3,6,7,8,9

Median = 6

For a continuous probability distribution, the median is the value such that a number is equally likely to fall above or below it.

1,2,3,4,5,6,7,8

Median = (4+5) / 2

=4.5