I believe most people do not understand the difference between Average and Median. So here goes -- another Real Estate lesson:
The average (or mean) is the sum of the values of all the observations, divided by the number of observations. It is the average value.
The median is the value at which 50% of the observations lie above, and 50% lie below.
Example: You have a list of numbers,
100 + 110 + 130 + 150 + 200 + 225 + 250 + 325 + 500 = 1990 / 9 (numbers) = 221
221 is the Average
200 is the Median
Glad you know the difference now?
No comments:
Post a Comment