Mean, Mode and Median are most commonly used measure of central tendency. Measure of central tendency gives an idea about the concentration of the values in the central part of distribution.
To explain how to calculate mean and median, let’s consider a set of data as below:
5, 8, 2, 14, 9, 6, 3
How To Calculate Mean
Given a set of data values X1, X2, X3…… Xn from a finite population of size n, the mean is calculated as:
How To Calculate Median
Given a set of data values X1, X2, X3…… Xn from a finite population of size n, arranged in an ascending or descending order,the median is calculated as:
- middle value, if the number of values or data or observations is odd i.e. X(n+1)/2
- average of two middle values if the number of observations is even i.e. (Xn/2 + Xn+1/2) / 2
Thus, for the set of data given above, first data need to be arranged in an ascending or descending order,
2, 3, 5, 6, 8, 9, 14
The number of values or observations here is 7, hence n = 7. Therefore, median would be X(7+1)/2 =X4. Now, 4th element in the arranged list of data is 6, hence the median is 6.
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