Median

Definition

Median. Value of the variate dividing the total frequency of a data sample, population, or probability distribution, into two halves

The basic advantage of the median in describing data compared to the mean is that it is not skewed by extremely large or small values, and may provide a better idea of a 'typical' value.

See Also

• https://stats.oecd.org/glossary/detail.asp?ID=3717
• https://www.census.gov/glossary/#term_Median

Disclaimer

This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.