What are the Merits and Demerits of Median?

What are the Merits and Demerits of Median?

Merits:

Following are the main merits of the median:

(i) Simplicity;

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.

(v) Certainty:

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.

Demerits:

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.

(ii) Erratic:

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.