Average Vs Median:
Average and median are the commonly used terms and are quite different from each other. Some people are confused between these two terms and use it interchangeably but they are not same and are quite different from each other. Average is calculated by adding all the numbers and then divided it by the total numbers while on the other hand median refers to the middle value in the list of the numbers.
The Term average refers to a calculated central value of a set of numbers. Average is calculated by adding up all the numbers and then divided it by its total numbers. To explain you an Average in a more appropriate manner here is an example of it: the example of numbers, 2, 7 and 9? First add up all the three numbers: 2+7+9=18. Then we divide it by its total numbers which is 3 so its average value will be 6.
The median refers to the value which separates the higher half from the lower half of a data sample. For a set of data median is referred to as a middle value. For example in a data set of 1,3,3,6,7,8,9 the median is 6, which is the fourth largest value in the given set and is also the fifth smallest number. In continuous probability distribution median is the value in which a number is equally likely to fall above or below it.
Main difference between Average and Median:
Average and median are quite different from each other. The following are some of the major differences between Average and Median.
- Average can be calculated while on the other hand median is a center value and cannot be calculated.
- Sum up all values and divide it by numbers refers to average while the middle value is referred to as median.