Median Value (Noun)
Meaning
The number midway between the two middle numbers in a series containing an even or odd number of items.
Classification
Nouns denoting cognitive processes and contents.
Examples
- The median value in this dataset needs to be calculated to better understand the central tendency.
- By identifying the median value, we can get a clearer picture of the typical values in this distribution.
- The data analyst determined the median value of all the exam scores to evaluate overall student performance.
- We estimated the population's median value based on data collected from the representative sample.
- The company's income was slightly below the industry's median value, indicating room for improvement.