What is the median? State its merits and demerits.
Explanation
The median is an average which is the middle value when figures are arranged in order of magnitude, e.g. These are the marks obtained by a group of students.
Solution : Rearrange 30, 40, 45, 50, 55, 60, 65, 80, 85. Therefore the median is 55.
Merits of the median are:
(i) Computation is easy.
(ii) Median gives a clear idea of the distribution of the data.
(iii) Median can also be graphically obtained.
(iv) It does not use all the values in the distribution.
(v) Calculation is easy to comprehend or understand.
Demerits of the median are:
(i) Re-arrangement may be cumbersome when large data are involved.
(ii) The data must be well arranged before computation.
(iii) There is limit to its usefulness in statistical calculations.