Comparing mean and median
An outlier drags the mean towards it but barely moves the median. If the two differ a lot, the data is skewed, so the median is usually the fairer typical value to report.
Understanding Comparing mean and median in VCE Spreadsheets, SQL & Visualisation
What it does: If these two results are far apart, an outlier or skew is probably affecting the data, so the median may be the fairer typical value. The $5,000k mansion pulls the mean up. The median stays close to most of the prices, so it is fairer to report. Spreadsheets use AVERAGE for the mean and MEDIAN for the middle value. MEAN() and MIDDLE() are not the usual functions. When the two values are close, no extreme values are pulling the mean away from the middle. AVERAGE adds up all the values and divides by how many there are, so one extreme value can drag the result up or down.
Common mistakes: MEDIUM is not a spreadsheet function. The function that finds the middle value is MEDIAN, so the line should be D2: =MEDIAN(B2:B6). The formula is missing its closing bracket. It should be =MEDIAN(B2:B7).
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