Merits and Demerits of MEDIAN | Central Tendency
🚩Timestamps:-
00:12 Session Agenda
00:41 Merits of Median
12:02 Demerits of Median
17:05 Concluding Remarks
Learning
Outcomes:-
Through this module, you will gain understanding on:-
1. Merits of Median
2. Demerits of Median
Merits of Median -
1.
Widely
used measure, particularly in the field of socio-economic studies, Series
related to qualitative observations such as IQ, Health of Students etc.
2.
Very
simple measure of Central tendency; In case of simple individual series, just a
glance at the data is enough to locate the median value
ascending order -
13, 15, 16, 17, 18, 19, 20, 22, 23
3.
As
opposed to Arithmetic Mean, MEDIAN Value is NOT distorted by presence of
extreme values in series
DEMERIT of Arithmetic
Mean -
NOT always a representative value -
gets distorted by presence of extreme
values in the Series
4.
Median
value is always a certain specific value in the series
5.
Better
representative value of series compared to Average (i.e. Mean)
6.
Is
a Real Value, Median EXISTS in the Series
7.
Can
also be estimated through Graphic presentation of data
8.
Can
be estimated even in case of incomplete series; It is enough to know number of items and Middle item(s) of the series
“Nine”
Number of Items in an Incomplete Series:-
10,
15, (?), 42, 55
Median, 63, (?), 89, 98
Demerits of Median -
1.
When
different values of series are widely apart from each other, median fails to be
a representative measure
2.
It
is NOT based on all items in the series
3.
When
Median is located somewhere between two middle values, it remains only an
approximate measure, not a precise value
Even number of Items -
13, 15, 16, 17, 18, 19, 20, 22, 23.
25
4.
NOT
Capable of further algebraic treatment
VIDEO DESCRIPTION (max 5,000 characters)
Merits of Median, Demerits of Median | Measures of Central Tendency: Median and Mode | 11th Commerce | by @statomics11comm
📚 CHAPTER PLAYLIST ►
Ch 10 - (Median, Mode) Measures of Central Tendency: Median, Mode
https://www.youtube.com/playlist?list=PL0BlcnHQsq5KD83Eo3ED8zZ74DM7xych7
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Median and Mode
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