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Another form of statistical average used where the mean does not give a fair picture, due to the presence of a few extreme values in a series, the inclusion of which gives an unrepresentative average. The median is arrived at by putting the series in an ascending scale and taking the middle one as the average or median. If the number of items is even, the two middle items are taken, added together and halved.

Reference: The Penguin Business Dictionary, 3rd edt.