Median (Me) is a value of a variable characteristic in the exact middle of a series arranged in ascending or descending order of the characteristic's numeric values, that is, the value of the studied characteristics that is positioned exactly in the middle of an ordered series of variations. The major median property is that the sum of absolute deviations of characteristic values from the median is less than the sum of absolute deviations of characteristic values from any other value:
To calculate the median of a discrete series with frequencies, first the half-sum of the frequencies is calculated followed by the calculation of the value of the appropriate varying characteristic. To calculate the median of an interval series, first the interval medians are calculated followed by the calculation of the value of the varying characteristic corresponding to this frequency. The formula is used to calculate the median:
Where:
x0. Lower limit of median interval.
. Median interval value.
. Cumulative frequency of the interval preceding the median interval.
fMe. Median interval frequency.
See also:
Library of Methods and Models | IModelling.Median