Median — The Middle Most Term

“A value which cuts the dataset in 2 equal parts”

Median

Median is the middle value of a sorted data set; found by ordering all data points and picking out the one in the middle (or if there are two middle numbers, taking the mean of those two numbers).

Let’s find Median of our data set.

Finding Median of pizza prices in NY and LA

As you can see, we have total 11 observations for NY so the middle position is at index of 6th which can be calculated as (11+1)/2=6. So the Median of pizza prices in NY is $6.00

What’s about LA? We have 10 observations in LA so the middle position is between 5th and 6th which can be calculated as (10+1)/2=5.5. So the Median of pizza prices in LA is $5.50

Note: Median is not affected by outliers ($66.00)

Steps to Find the Median

1. Order the Data: Arrange the data points in ascending (or descending) order.
2. Determine the Number of Observations (n): Count the total number of data points.
3. Find the Median Position: