Median

{
  "id": "MLC-T-ECS-001164",
  "term": "Median",
  "field": "Economic statistics",
  "definition": "This measure represents the middle value (if n is odd) or the average of the two middle values (if n is even) in an ordered list of data values. The median divides the total frequency distribution into two equal parts: one-half of the cases fall below the median and one-half of the cases exceed the median.\n\nFor example, the median income is the amount which divides the income distribution into two equal groups, one having incomes above the median, and the other having incomes below the median. The median for households, families, and unrelated individuals is based on all households, families, and unrelated individiuals, respectively. The median for people is based on people with income.",
  "see_also": [
    "Derived measures"
  ],
  "references": [
    "U.S. Census Bureau Glossary"
  ],
  "url": "https://mlchart.com/terminology/economic-statistics/median/"
}