median — Oil & Gas Glossary
A mathematical measure of the centrality of a data set. If the data set is arranged in the order of the values, the median is the value of the central data point for an odd number of data, or the mean of the two central data points for an even number of data. The median is often used in place
Detailed Explanation
of the mean or average when there are a number of extreme data values or the distribution of data is skewed.