what is the difference between average and median
It is derived by dividing the sum of the values in the set by the number of values in the set. It is commonly called average and is the arithmetic mean. Median - the value where exactly 50% of the number of the values are less then and 50% are greater then. Mode = the number that occurs the most in the set. If no numbers repeat there is no mode.
Median Income Overview. In math, median is the exact middle of a set of numbers. If there are 3,999 items included in a set of salaries being evaluated, the median salary is the one that is ranked 2,000th. There are exactly 1,999 people with higher salaries and 1,999 people with lower salaries.