Median
Lora Rosenthal
CEO/President Touchdown Abstract Services, Inc.; NYS Lic Real Estate Broker at Touchdown Homes, Inc.
? The middle value of a data set or sample when the values are ordered by size ranking in ascending or descending order. Note that for an odd number of values in an ordered data set, the median is identified as the value that divides the data set into two data sets of equal size on each side of the median or middle value. For an even number of values arranged in order, the median is found by simply calculating the value midway between the two middle values.
The position of the median value of an ordered data set containing n observations may be found by using the formula: position of the median = n/2 + 1/2.
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