Median and Its Significance - Dr Richard Diamond

Dr Richard V. Diamond Regent’s College April 2009 The Median. Its Significance

The Median ,[object Object],[object Object],[object Object],Middle value in the ordered array

Locating The Median ,[object Object],[object Object],[object Object],[object Object],Chap 3-

The Median: Resistant to Outliers ,[object Object],[object Object],0 1 2 3 4 5 6 7 8 9 10 Median = 3 0 1 2 3 4 5 6 7 8 9 10 Median = 3

The Mean: Sensitive To Outliers ,[object Object],[object Object],Chap 3- 0 1 2 3 4 5 6 7 8 9 10 Mean = 3 0 1 2 3 4 5 6 7 8 9 10 Mean = 4

Measures of Central Tendency: A Comparison Chap 3- House Prices: $2,000,000 $500,000 $300,000 $100,000 $100,000 Sum $ 3,000,000 ,[object Object],[object Object],[object Object],[object Object]

Significance of The Median ,[object Object],[object Object],[object Object],[object Object]

Age Map of the U.S. Lighter is older median age (white is 46.0 years median age). Dark is younger median age (black is 29.0 years median age) Source: Google Earth

Significance of The Median (Cont.) ,[object Object],[object Object],[object Object]

Locating the Median: A Little Exercise ,[object Object],[object Object],[object Object],[object Object]

Median and Its Significance - Dr Richard Diamond

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Median and Its Significance - Dr Richard Diamond