Question

The median of a series of numerical value is:

• A. A value for which half of the values are higher and half of the values are lower
• B. The value located exactly midway between minimum and maximum of the series
• C. The most commonly encountered values among the series
• D. A measure of the eccentricity of the series

Hint:

Median: middle value in ordered series.
Not affected by outliers.
Robust measure of central tendency.

Answer 1

The Correct Option is A

Step 1: Understanding the Concept:
Median is a measure of central tendency.
It has a specific definition.

Step 2: Key Formula or Approach:
No specific formula.
Need to understand the definition of median.

Step 3: Detailed Explanation:
The median is the middle value in an ordered series.
Half of the values are higher and half are lower.
It is not the midpoint between min and max (that is midrange).
It is not the most common value (that is mode).
Thus, the correct definition is the value for which half are higher and half are lower.

Step 4: Final Answer:
The median is the value for which half of the values are higher and half are lower.
Hence, the correct option is (A).