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MEDIAN
Use the median to describe the middle of a set of data that does have an outlier.
Advantages:
• Extreme values (outliers) do not affect the median as strongly as they do the mean.
• Useful when comparing sets of data.
• It is unique - there is only one answer.
Disadvantages:
• Not as popular as mean.
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What are the advantages and disadvantages of data collection methods in statistics?
There are both advantages and disadvantages of data collection methods in statistics. The main advantages are the metrics and correlation one can draw from statistics. The disadvantages stem from sampling errors.
What are the advantanges and disadvantages of variance in statistics?
There are many advantages and disadvantages of variance in statistics. One disadvantage is that you never know what answer you'll get.
Disadvantages of the mean in statistics?
the mean is affected by outliers
Advantages and disadvantages of Arithmetic mean?
There are a great number of advantages and disadvantages of Arithmetic mean. One disadvantages is that it is not accurate.
What is advantages and disadvantages of weighted average?
The advantages of using weighted averages are that it smooths out fluctuations due to statistical outliers. The disadvantage is that this gives a uniformity in the statistics and can make it difficult to project trends.
