Median

Definition

The median is defined as the middle value when all values within a dataset are arranged from smallest to largest. If there is an even number of observations, then there is no single middle value; so we take an average (mean) between two middle numbers instead.

Related terms

Quartile: Values that divide a list of numbers into quarters.

Percentile: The value below which a percentage of data falls.

Interquartile Range (IQR): A measure of statistical dispersion, being equal to the difference between the upper and lower quartiles.