melbourne property bloodbath tomorrow, page-17

I will say it again the median is the weighted average or a weighted middle if one might split hairs or be OCD I suppose.....one simply cannot 'pick' the middle out of a set of data and say "MIDDLE" it weights all outliers before it outputs.
A very long way from a simply the middle
An average average ignores the weight of all outliers and the middle is just the middle unless it is weighted...weighted is the word.

"To give you an idea of this let’s look at 11 sales in an imaginary suburb. The sales prices in thousands are as follows, 400,410, 420, 430, 440, 450, 460, 470, 480, 490 & 500. The median is 450 as it is the middle of all the sales."

^^^SCAMMER!^^^...dumbed down data set designed to scam the reality of what the medium means in statistical analysis.

Scammers forget his...either because they do not know or because it suits their position to only give 30% of the story.

Hop on the net to find out how....when one can sit through on paper and pen a wide dataset and apply old school the medium to it (a solid pain the buttox is the procedure!)they will see that the medium doesn't care if a 10million dollar house got sold amongst a dataset with the remainders being only 400-750k houses it will weight the 10mill house to average it with the 400k houses.

It's all we got to keep the scammers in their cage is the medium...correctly applied....the data needs to be trusted and then it's THE ONE ALL BUYERS SHOULD CARE ABOUT ABOVE ALL OTHERS....for all others will be from scammers to one extent or the another.