Mean or Median
Mean and median are quite similar; both help determine the average value of a sample and allow us to understand the data as a whole.
Are there any differences between these two terms?
Let's take a look at an example of finding the mean and median salaries of IT specialists, paying close attention to the last individual with the highest salary:
Conclusion
The mean value is more susceptible to extremely small or high values than the median. Therefore, when dealing with the values in a sequence which aren't similar, it is better to use the median. In our example, the mean value is twice as high as the median, making the median a more accurate representation.
Everything was clear?
Course Content
Learning Statistics with Python
Learning Statistics with Python
2. Mean, Median and Mode with Python
4. Covariance vs Correlation
Mean or Median
Mean and median are quite similar; both help determine the average value of a sample and allow us to understand the data as a whole.
Are there any differences between these two terms?
Let's take a look at an example of finding the mean and median salaries of IT specialists, paying close attention to the last individual with the highest salary:
Conclusion
The mean value is more susceptible to extremely small or high values than the median. Therefore, when dealing with the values in a sequence which aren't similar, it is better to use the median. In our example, the mean value is twice as high as the median, making the median a more accurate representation.
Everything was clear?
