Median Vs Average. Having defined both types of averages we can now look into the difference between the two. The difference between mean and average is that mean uses data in a given set and average is more general.
Average is considered a better estimate of central value if the data is symmetrically distributed. If we are going to categorize people according to their income levels like say upper medium lower we should use the median or the quartiles. Comparison of mean and median.
Here the mean picks up the relatively high but infrequent salaries at 15000.
Comparison of mean and median. In the case of real estate that means that the median is the price where half the homes sold in any given area that month were cheaper and half were more expensive than the median. In most cases these income levels are very close though especially high or low salaries can cause the average to be higher or lower than the median income. 91 84 56 90 70 65 90 92 30 668.
