Median
Median is an average of position or a positional average. This is called so, because its value is determined with reference to its position it the value column of a series.
Definition
Median may be defined as the value of the middle item of a series arranged in ascending, or descending order.As such, it divides a series into two equal parts; graphically it can represent as thus.
Methods of Determination of Median
As explained above, median cannot be computed like any mathematical average. However, its value can be determined by any of the following two methods:
- Tabular method and
2. Graphic method
