Merits and Demerits of Median

 

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Key Concept of Statistics - Presentation of data

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As soon as data collection is done, we need to find a way to present the data in most meaningful, efficient way such as tables, text, graphs, charts, tren ds etc.  Presentation of data is the easiest way of  presenting the  results of findings from collected data using appropriate data analysis techniques or tools. Data presentation is powerful tool which makes data understandable & readable at the same time while attracting & keeping the interest of its readers and effectively showcase large amounts of complex data in a simplified manner. Data can be presented in a variety of formats, including: Tables: Tables are a simple and effective way to present data. They are particularly useful for presenting precise numer ical data. Graphs and Charts: Graphs and charts are often used when it’s helpful to visualize trends, comparisons, or relationships in the data. This includes bar graphs, line graphs, pie charts, scatter plots, and more. Maps: For data with ...
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Median

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The median is a measure of central tendency that represents the middle value of a dataset when it is ordered from least to greatest. In other words, it is the middle value that separates the higher half from the lower half of a dataset. Median Formula :  The median formula is different for even and odd numbers of observations. Therefore, it is necessary to recognize first if we have odd number of values or even number of values in a given data set. The formula to calculate the median of the data set is given as follows:
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