The mean or average won’t be the midpoint of the data if there are sizable outliers or if the data clumps around certain values. The average would be 24/8 = 3 in this set of data: 0, 0, 0, 1, 1 ...

Once data has been collected, it can be sorted and processed in different ways depending on the purpose of the survey. Finding an average value – mean, median or mode- is often useful.

If most of the houses sell for somewhere between $100,000 and $200,000, and there are a few multimillion dollar mega-mansions, the mean price of a house in the neighborhood might well be $500,000 ...

In the Chestnut Street example, the median income is $50,000. Finding the median is easier when there are an odd number of values. In the example above, which has five values, 103 Chestnut is right in ...

PESCA: Well, you're allowed to say it, but the risk is that a lot of people will think mean, median, uh-oh, you're about to get into the deep economic mumbo-jumbo. So here's what the median means ...

Comparing income growth per capita to median income growth is telling: What Does 'Economic Growth' Mean for Americans?, by Uwe E. Reinhardt, Economix: ...The third chart, below, exhibits the ...