Hi All,

My boss wants to calculate the average and medium price for horses sold.

If we sell 10 foals over a period of years out of one mare:
1. 7,000
2. 12,000
3. 15,000
4. 17,000
5. 20,000
6. 22,000
7. 25,000
8. 27,000
9. 30,000
10. 250,000

total: 425,000

The average would be 42,500.

How would you calculate the "medium"?

What are the philosopical differences between the two methods?

Why would you want to know the medium as opposed to the average?

Thanks,

Jim Harvey