The Median Principle

Timothy J. Lowe and Dilip Chhajed

Chapter 6 in Building Intuition, 2008, pp 101-114 from Springer

Abstract: The mean or average value is often used as the representation of a list of numbers when in fact another measure, the median, which is the middle value of the list, is more appropriate. This principle of “middle” is more general and has several other applications—from location to inventory problems.

Keywords: Location Problem; House Price; Main Street; Good Location; Weighted Distance (search for similar items in EconPapers)
Date: 2008
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DOI: 10.1007/978-0-387-73699-0_6

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