Median

What is Median: In statistics and probability theory, a median

is a value separating the higher half from the lower half of a
data sample, a population or a probability distribution.

Explain: For a data set,it may be thought of as "the middle"

value. The basic advantage of the median in describing data
compared to the mean (often simply described as the
"average") is that it is not skewed so much by a small
proportion of extremely large or small values, and so it may
give a better idea of a "typical" value. For example, in
understanding statistics like household income or assets, which
vary greatly, the mean may be skewed by a small number of
extremely high or low values. Median income, for example,
may be a better way to suggest what a "typical" income is.
Because of this, the median is of central importance in robust
statistics, as it is the most resistant statistic, having a
breakdown point of 50%: so long as no more than half the data
are contaminated, the median will not give an arbitrarily large
or small result.
Example: The median is the middle value in a data set.
To calculate it, place all of your numbers in increasing
order. If you have an odd number of integers, the next
step is to find the middle number on your list. In this
example, the middle or median number is 15:
 3, 9, 15, 17, 44
If you have an even number of data points, calculating the
median requires another step or two. First, find the two
middle integers in your list. Add them together, then
divide by two. The result is the median number. In this
example, the two middle numbers are 8 and 12:
 3, 6, 8, 12, 17, 44
Written out, the calculation would look like this:
 (8 + 12) / 2 = 20 / 2 = 10
In this instance, the median is 10 .
 Quartile
What is quartile; Quartiles are values that divide a (part of a)
data table into four groups containing an approximately equal
number of observations. The total of 100% is split into four
equal parts: 25%, 50%, 75% and 100%.
The first quartile (or lower quartile), Q1, is defined as the value
that has an f-value equal to 0.25. This is the same thing as the
twenty-fifth percentile. The third quartile (or upper quartile),
Q3, has an f-value equal to 0.75. The interquartile range, IQR, is
defined as Q3-Q1.
Explain of Quartile ; A quartile is a type of quantile which
divides the number of data points into four more or less equal
parts, or quarters. The first quartile (Q1) is defined as the middle
number between the smallest number and the median of the data
set. It is also known as the lower quartile or the 25th empirical
quartile and it marks where 25% of the data is below or to the
left of it (if data is ordered on a timeline from smallest to
largest). The second quartile (Q2) is the median of a data set and
50% of the data lies below this point. The third quartile (Q3) is
the middle value between the median and the highest value of
the data set. It is also known as the upper quartile or the 75th
empirical quartile and 75% of the data lies below this point. [1]
Due to the fact that the data needs to be ordered from smallest to
largest to compute quartiles, quartiles are a form of Order
statistic.
  Example of Quartile:
 1st quartile or lower quartile basically separate the
lowest 25% of data from the highest 75%.
 2nd quartile or middle quartile also same as median it
divides numbers into 2 equal parts.
 3rd quartile or the upper quartile separate the highest
25% of data from the lowest 75%.
Formula For Quartile:
Let’s say that we have a data set with N data points:
X – {X1, X2, X3……….. XN}
What it basically means is that in a data set with N data
points:
((N+1) * 1 / 4)th term is the lower quartile
((N+1) * 2 / 4)th term is the middle quartile
((N+1) * 3 / 4)th term is the upper quartile
 Percentiles
What is Percentile : A percentile is a measure at which that
percentage of the total values are the same as or below that
measure. For example, 90% of the data values lie below the 90th
percentile, whereas 10% of the data values lie below the 10th
percentile.

Explain of percentile : A percentile (or a centile) is a measure

used in statistics indicating the value below which a given
percentage of observations in a group of observations falls.
For example, the 20th percentile is the value (or score)
below which 20% of the observations may be found.
Equivalently, 80% of the observations are found above the
20th percentile.
The term percentile and the related term percentile rank are
often used in the reporting of scores from norm-referenced
tests. For example, if a score is at the 86th percentile, where
86 is the percentile rank, it is equal to the value below which
86% of the observations may be found (carefully contrast
with in the 86th percentile, which means the score is at or
below the value below which 86% of the observations may
be found—every score is in the 100th percentile).[dubious –
discuss][citation needed] The 25th percentile is also known
as the first quartile (Q1), the 50th percentile as the median
or second quartile (Q2), and the 75th percentile as the third
quartile (Q3). In general, percentiles and quartiles are
specific types of quantiles.
Example of Percentile :
Find the 90th percentile following the steps above.
 (.9 x 8)=7.2 (round to 7)
 K=72 (greater than), k=68 (greater than or equal
to)
 Average (72 + 68) / 2 = 70