What are the Merits and Demerits of Median?
Following are the main merits of the median:
It is very easy to calculate and is readily understood.
(ii) Unaffected by Extreme Values:
Median is not affected by the extreme values. It is independent of the range of series.
(iii) Graphic Measurement:
Median can be measured graphically.
(iv) Qualitative Suitability:
Median serves as the most appropriate average to deal with qualitative data.
Median value is always certain and specific value in the series.
(vi) Typical Observations:
Median is often used to convey the typical observation. It is primarily affected by the number of observations rather than their size.
Median suffers from the following limitations.
(i) Lacks Representative ness:
Median does not represent the measure of such series of which different values are wide apart from each other.
Median is erratic if the number of items is small.
(iii) Incapable of Algebraic Treatment:
Median is incapable of further algebraic treatment.
(iv) Effect of Fluctuations:
Median is very much affected by the sampling fluctuations.