The median is the mid-point of a given data set; rather than the mean, which produces a single number that takes into account the extremes of the data set as well as the middle, the median tends to be more stable, finding the half-way point between extremes rather than directly incorporating them. For wage comparisons, especially over time, the median is useful and an excellent choice of statistical tool precisely for this stability and lack of influence by extremes that are exceptions to the general findings of the data set.
Conclusion
The examinations of the statistical tools herein have been brief, but hopefully effective. Understanding the different methods of analysis and presentation that are at one's disposal is essential in order to carry out effective research in a way that is meaningful to other researchers and practitioners, in the filed of human resource management and in all other areas of scientific research as well.
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