The median is defined as which of the following?

The median is indeed defined as the mid-point of a group of numbers. In statistical terms, the median represents the value that separates a dataset into two equal halves. When the numbers are arranged in ascending or descending order, the median is the middle number if there is an odd total of numbers. If there is an even total, the median is the average of the two middle numbers. The concept of the median is crucial in data analysis because it provides a measure of central tendency that is less affected by outliers compared to the mean, which is the average of the numbers. Understanding the median helps assessors and appraisers accurately interpret data distributions in various contexts.