Median [ˈmiː.di.ən]: the value of the data-point exactly in the middle of a dataset.
To determine it, the datapoints have to be sorted by value. If you have an odd number of data points, it is the one directly in the middle. With an even number of values you either take the arithmetic mean between the two middle ones or you round up.
Other means are: the arithmetic mean or the truncated medium. Which one you should chose depends on the kind of data in front of you.
The main differnce lies in the way these means are affected by extreme values – their so called robustness against anomalies. The median is very robust against anomalies.Back to Dictionary