Mean, Median, and Midrange
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The applet below accompanies AQR Quick Question 17.3.
Drag the RED point and examine how the mean, the median, and the midrange are related.
What are the mean, the median, and the midrange of this set of observations?
Do all three of these values accurately capture the “center” of the distribution?
Click on the NEW DATA SET button to explore a new data set.