Median denotes the middle value of a given data set i.e. 50% of the values will be above the median while 50% will be below it. It is one of the measures of Central Tendency which is preferred when the data is skewed or has extreme values
An application-oriented question on the topic along with responses can be seen below. The best answer was provided by Dr. Shashikant Adlakha on 7th January 2020.
Applause for all the respondents - Shashikant Adlakha, Sudheer Chauhan, Nilesh Gham, Nikita Bachchan, Anshu Goel, Raman Kant Bhutani, Sreyash Sangam,
Also review the answer provided by Mr Venugopal R, Benchmark Six Sigma's in-house expert.