Economics · Statistical Methods
Consider the following statements regarding the median: (A) Extreme values highly affect the median. (B) It is a positional average, and its value is not determined by the magnitude of each and every observation. Which of the above statements is/are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Neither (A) nor (B) is correct
- 2Both (A) and (B) are correct
- 3Only (B) is correct✓
- 4Only (A) is correct
Correct answer
Only (B) is correct
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