Median as an average of position has a number of merits and demerits. These are outlined as under keeping in view the characteristics of an ideal average.
- It is simple to understand.
- It does not require all the observations of the data for its determination.
- It is not affected by the extreme values of a series.
- It can be determined graphically which is shown a little later along with the quartiles etc.
- It can be determined easily in open and series without estimating the lowest or highest class limits.
- It can be determined straightway in case of a series of unequal class intervals without converting the series into equal class intervals as it is done in case of a Mode.
- It is considered suitable for computation of the mean deviation as the sum of the deviation as the sum of the deviations taken from it is the minimum.
- It is capable of being expressed in qualitative form as it is not computed but located.
- It gives a value, which very much exists in the series, and is a round figure in most of the cases:
- It is not rigidly, and as such, its value cannot be computed but located.
- It is not based on all the observations of the series.
- It is not capable of further algebraic treatment like mean, geometric mean and harmonic mean.
- It needs the arrangement of a series in ascending or descending order and more particularly in a frequency distribution it needs the arrangement of the series in ascending order.
- It is very much affected by fluctuations in sampling.
- It gives erroneous result, if the number of items is very small.
- If the number of items of an individual series is of even nature, its value is determined by the p5rocess of arithmetic average.
- At times, it produces a value which is never found in the series.
- At times it gives fractional and impracticable results.