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Median: Market Research

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Median: Market Research

The median is a method of gaining an 'average' from a set of data. First, the data must be arranged in terms of increasing magnitude, and then the middle value is selected. For example, the data set 3,5,7,2,8,60,4 would be arranged as below:

2,3,4,5,7,8,60

The median value in this case would be 5. One strength of the median form of average is that it is not influenced by a small number of extreme values - for instance the 60 in the above example. The median average of 5 is a good approximation of the majority of the responses these respondents have given.

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