In a dataset, what function does the median serve?

The median serves a vital function in the dataset by providing the middle value when the data is arranged in order from lowest to highest. This property is particularly useful because the median is not affected by extreme values or outliers, which can skew the mean (average). When you have a dataset consisting of an odd number of values, the median is simply the value positioned in the center. In contrast, if the number of values is even, the median is calculated by taking the average of the two middle values. This makes the median a robust measure of central tendency, ensuring it reflects the true center of the data distribution more accurately in such scenarios.

Understanding the role of the median is critical in fields that involve statistical analysis, such as appraising and assessing property values, as it provides a clearer picture of the data's central tendency compared to other measures that might be influenced by atypical values.