mean median definition
What is a 'Median'. A median is the middle number in a sorted list of numbers. To determine the median value in a sequence of numbers, the numbers must first be arranged in value order from lowest to highest. If there is an odd amount of numbers, the median value is the number that is in the middle, with the same amount of numbers below and above.
Mean (or arithmetic mean) is a type of average. It is computed by adding the values and dividing by the number of values. Average is a synonym for arithmetic mean â which is the value obtained by dividing the sum of a set of quantities by the number of quantities in the set. An example is (3 + 4 + 5) Ã· 3 = 4. The average or mean is 4. Two other common forms of averages are the median and mode. The median is the middle value of the set when they are ordered by rank â or the point in a series of numbers above and below which is half of the series.