A median is a value in a data collection that is in the middle. In statistics, the median is the number that appears in the middle of an n-by-n number of the grouped or ungrouped data set. It is employed in a variety of real-life scenarios.
The following formula is used to compute the Median.
Median= (n + 1) / 2
Let’s look at a simple example: 1, 2, 3, 4, 5. The value in the middle is 3. Because this is a modest set of data, we can find it manually. When using the same set of data in the calculation before, n = 5, hence median = (5+1) / 2 = 3. The median is the third number. Finding the median manually for a huge set of data is impossible. As a result, using the formula for a large quantity of data is critical.