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The general formula treats the percentile as binomial proportion, p, with standard error sqrt[np(1-p)].

What is the relationship between the median and the mean?

Hozo et al. (2005) show that for a variable with minimum, min and maximum, max its mean is approximately equal to $$\frac{\mbox{min+median+max}}{4}$$. They suggest using this for small samples < 25.

A confidence interval for the median

95% Confidence intervals for the median may also be obtained, for example for assessing the influence of outliers since medians are more robust to outliers. In particular the 95% confidence interval for a median based upon a sample size, are the numbers with ranks [n/2 - 1.96 sqrt(n/4), n/2 + 1.96 sqrt(n/4) + 1]. So if we have 64 observations the 95% confidence interval for the median has lower bound equal to approximately the 24th (31.5 - 1.96 sqrt(63/4)) highest value and upper bound equal to approximately the 40th (= 63/2 + 1.96 sqrt(63/3) + 1) highest value.

The general formula treats the percentile as binomial proportion, p, with standard error sqrt[np(1-p)].

Reference

Hozo, S-P, Djulbegovic, B and Hozo, I (2005). Estimating the mean and variance from the median, range, and the size of a sample. BMC Medical Research Methodology 5 13. doi:10.1186/1471-2288-5-13. See also the link here.

None: FAQ/meanmed (last edited 2018-12-11 10:15:06 by PeterWatson)