What is the median?
In statistical evaluation, we display the median value, and the median can also be shown in the chart over time. We often receive the question of what the median is.
The median is a measure of central tendency, similar to the average, which is also a measure of central tendency. Everyone knows the average.
Average
Assuming we have 5 numbers and want to calculate the average, we simply add them up and divide the result by 5.
Example:
Numbers: 3, 6, 2, 4, 9
Sum: 3+6+2+4+9 = 24
Average: 24 / 5 = 4.8
Median
For the median, the numbers are sorted, and the value in the middle is taken. If there are 2 entries in the middle, their average is taken.
Example:
Numbers: 3, 6, 2, 4, 9
Sorting: 2, 3, 4, 6, 9
Median: 4
The reason behind this is that individual outliers, whether high or low, significantly influence the average, but not the median.
Average and Median Comparison
Example: 115, 120, 125, 160
Average: 130
Median: 122.5
The average is significantly pulled up by the outlier, while the median remains more stable. This makes it particularly suitable for analyzing a trend, especially when there are relatively few individual values. If we had hundreds of values, the median and average would converge.
