Current Events > What does median mean?

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IdiotMachine 04/24/22 9:12:48 PM #1:	If someone says if the average cost of a service is $500, but the median is $200, does that mean there's a lot of high quotes out there? I'm not sure how to interpret median relative to the average/mean. --- https://i.imgur.com/XNEdLrJ.png <cite>IdiotMachine posted [p:964543743] in What does ... [t:79997788]...</cite> <quote>If someone says if the average cost of a service is $500, but the median is $200, does that mean there's a lot of high quotes out there? I'm not sure how to interpret median relative to the average/mean. </quote> ... Copied to Clipboard!
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Harpie 04/24/22 9:16:17 PM #3:	The mean is just the middle of the data set. Say that you polled users here on their age and the average age was idk 30 years old. The median is just the middle of the set of numbers. So if the youngest poller was 20 and the oldest was 100, the median would be 60. 60 is the exact middle of those two numbers. Make sense? --- no <cite>Harpie posted [p:964543820] in What does ... [t:79997788]...</cite> <quote>The mean is just the middle of the data set. Say that you polled users here on their age and the average age was idk 30 years old. The median is just the middle of the set of numbers. So if the youngest poller was 20 and the oldest was 100, the median would be 60. 60 is the exact middle of those two numbers. Make sense? </quote> ... Copied to Clipboard!
IdiotMachine 04/24/22 9:17:01 PM #4:	[LFAQs-redacted-quote] Harpie posted... The mean is just the middle of the data set. Say that you polled users here on their age and the average age was idk 30 years old. The median is just the middle of the set of numbers. So if the youngest poller was 20 and the oldest was 100, the median would be 60. 60 is the exact middle of those two numbers. Make sense? I understand the definition, I just don't know how to interpret it. --- https://i.imgur.com/XNEdLrJ.png <cite>IdiotMachine posted [p:964543842] in What does ... [t:79997788]...</cite> <quote><cite>[LFAQs-redacted-quote]</cite> Harpie posted... </cite> <quote>The mean is just the middle of the data set. Say that you polled users here on their age and the average age was idk 30 years old. The median is just the middle of the set of numbers. So if the youngest poller was 20 and the oldest was 100, the median would be 60. 60 is the exact middle of those two numbers. Make sense?</quote>I understand the definition, I just don't know how to interpret it. </quote> ... Copied to Clipboard!
Harpie 04/24/22 9:18:11 PM #5:	IdiotMachine posted... I understand the definition, I just don't know how to interpret it. If the average is $500 but the median is $200, yes that likely means that most quotes are on the higher end. It seems like there could be a cheaper outlier skewing the median down --- no <cite>Harpie posted [p:964543866] in What does ... [t:79997788]...</cite> <quote>IdiotMachine posted... </cite> <quote>I understand the definition, I just don't know how to interpret it.</quote>If the average is $500 but the median is $200, yes that likely means that most quotes are on the higher end. It seems like there could be a cheaper outlier skewing the median down </quote> ... Copied to Clipboard!
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Michael_Booth 04/24/22 9:20:43 PM #8:	In the Following Sequence: 220, 310, 490, 490 Mean: 377.50 Mode: 490 Median: 400 <cite>Michael_Booth posted [p:964543919] in What does ... [t:79997788]...</cite> <quote>In the Following Sequence: 220, 310, 490, 490 Mean: 377.50 Mode: 490 Median: 400 </quote> ... Copied to Clipboard!
TheGoldenEel 04/24/22 9:21:42 PM #9:	IdiotMachine posted... I understand the definition, I just don't know how to interpret it. A median can be a more accurate representation of a group say you have ten people, nine of them make $30,000 per year and one of them makes $5,000,000, the average salary of those ten people is $527,000; the median is $30,000 --- BLACK LIVES MATTER Games: http://backloggery.com/wrldindstries302 \\ Music: http://www.last.fm/user/DrMorberg/ <cite>TheGoldenEel posted [p:964543942] in What does ... [t:79997788]...</cite> <quote>IdiotMachine posted... </cite> <quote>I understand the definition, I just don't know how to interpret it.</quote>A median can be a more accurate representation of a group say you have ten people, nine of them make $30,000 per year and one of them makes $5,000,000, the average salary of those ten people is $527,000; the median is $30,000 </quote> ... Copied to Clipboard!
A5modeu5 04/24/22 9:22:02 PM #10:	Harpie posted... the median would be 60. 60 is the exact middle of those two numbers. No it isnt. The median is the value in the middle of the whole data set. Big outliers dont change the median. In your case it would. --- --- http://backloggery.com/a5modeu5/sig.gif <cite>A5modeu5 posted [p:964543952] in What does ... [t:79997788]...</cite> <quote>Harpie posted... </cite> <quote>the median would be 60. 60 is the exact middle of those two numbers.</quote> No it isnt. The median is the value in the middle of the whole data set. Big outliers dont change the median. In your case it would. </quote> ... Copied to Clipboard!
DuneMan 04/24/22 9:23:30 PM #11:	Median is literally lining up all the numbers in a data set in order and picking the middle entry. Mean, or average, is adding up all the numbers in the data set and dividing that sum by the number of entries. In terms of practical differences, mean can be skewed by extreme outlier entries, either high or low. For example, if you took the annual incomes of 30 people but one of them was Jeff Bezos then the mean would be ridiculously high due to that one outlier. If you took the median though you'd look at entries 15 and 16 and split the difference. So Jeff Bezos being part of the set wouldn't skew the result, despite being a ridiculous outlier for annual income. --- "I'd rather betray the world than let the world betray me." -Cao Cao <cite>DuneMan posted [p:964543981] in What does ... [t:79997788]...</cite> <quote>Median is literally lining up all the numbers in a data set in order and picking the middle entry. Mean, or average, is adding up all the numbers in the data set and dividing that sum by the number of entries. In terms of practical differences, mean can be skewed by extreme outlier entries, either high or low. For example, if you took the annual incomes of 30 people but one of them was Jeff Bezos then the mean would be ridiculously high due to that one outlier. If you took the median though you'd look at entries 15 and 16 and split the difference. So Jeff Bezos being part of the set wouldn't skew the result, despite being a ridiculous outlier for annual income. </quote> ... Copied to Clipboard!
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IdiotMachine 04/24/22 9:25:50 PM #13:	TheGoldenEel posted... A median can be a more accurate representation of a group say you have ten people, nine of them make $30,000 per year and one of them makes $5,000,000, the average salary of those ten people is $527,000; the median is $30,000 --- https://i.imgur.com/XNEdLrJ.png <cite>IdiotMachine posted [p:964544030] in What does ... [t:79997788]...</cite> <quote>TheGoldenEel posted... </cite> <quote>A median can be a more accurate representation of a group say you have ten people, nine of them make $30,000 per year and one of them makes $5,000,000, the average salary of those ten people is $527,000; the median is $30,000</quote> </quote> ... Copied to Clipboard!
IdiotMachine 04/24/22 9:26:21 PM #14:	DuneMan posted... Median is literally lining up all the numbers in a data set in order and picking the middle entry. Mean, or average, is adding up all the numbers in the data set and dividing that sum by the number of entries. In terms of practical differences, mean can be skewed by extreme outlier entries, either high or low. For example, if you took the annual incomes of 30 people but one of them was Jeff Bezos then the mean would be ridiculously high due to that one outlier. If you took the median though you'd look at entries 15 and 16 and split the difference. So Jeff Bezos being part of the set wouldn't skew the result, despite being a ridiculous outlier for annual income. [LFAQs-redacted-quote] Got it. I think those three examples help. Thank you! --- https://i.imgur.com/XNEdLrJ.png <cite>IdiotMachine posted [p:964544037] in What does ... [t:79997788]...</cite> <quote>DuneMan posted... </cite> <quote>Median is literally lining up all the numbers in a data set in order and picking the middle entry. Mean, or average, is adding up all the numbers in the data set and dividing that sum by the number of entries. In terms of practical differences, mean can be skewed by extreme outlier entries, either high or low. For example, if you took the annual incomes of 30 people but one of them was Jeff Bezos then the mean would be ridiculously high due to that one outlier. If you took the median though you'd look at entries 15 and 16 and split the difference. So Jeff Bezos being part of the set wouldn't skew the result, despite being a ridiculous outlier for annual income.</quote> <cite>[LFAQs-redacted-quote]</cite> Got it. I think those three examples help. Thank you! </quote> ... Copied to Clipboard!
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Current Events > What does median mean?