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What is the median between 500 and 1 million?
To find the median of an even number of values, you need to take the mean of the 2 middle numbers. Since there is only 2 numbers, take the mean to find the median. The median is (500 + 1M)/2 = 500250.
What is the median of a set of values?
the median is a value of which half of all the values are less than, and half of all the values are greater than.
How do you calculate the error of a median for a non-parametric distribution?
You would need to take repeated samples, find their median and then calculate the standard error of these values.
Compare and contrast mode mean and median?
Mean = average formed by adding values together and dividing by the total number of values Mode = the most popular value Median = line up all values in order and take the middle value
What is the significance of the median value for a set of data?
It is halfway along the distribution of set values. There are as many members of the set with values smaller than the median as there are with values bigger than it.
