Question

When is mean preferred and when is median preferred.

I do know that median is preferred with data is highly skewed that is when their is an outlier.
Because mean is not preferred in that situation

Answer 1

median is a "robust measure"

Answer 2

I would say that when the standard deviation is high, median is preferred

Answer 3

for example :-

consider below :
10, 20, 30, 40, 50

Answer 4

both mean and median are same : 30

make it right skewed by replacing 50 wid 1000

Answer 5

right skewed data :
10, 20, 30, 40, 1000


median still represents the bulk of data, but mean goes way off -- just because of one outlier

Answer 6

clearly, median gives u "meaningful info" when data is skewed

Answer 7

where as, mean may not give any useful info.

standard deviation got nothing to do wid preference over median/mode @inkyvoyd

Answer 8

ganeshie, I believe it does. the standard deviation of your example is fairly high.