What are the statistical measures used to calculate the median price of cryptocurrencies?

1 answers

• Nov 24, 2021 · 3 years ago
  To calculate the median price of cryptocurrencies, various statistical measures are employed. One commonly used measure is the median itself, which represents the middle value in a dataset. It is calculated by arranging the prices in ascending or descending order and selecting the value in the middle. Another measure is the interquartile range (IQR), which is the range between the 25th and 75th percentiles. The IQR provides insights into the spread of prices around the median. Additionally, the mean absolute deviation (MAD) is used to measure the average distance between each price and the median. These statistical measures help in determining the median price of cryptocurrencies and provide a comprehensive understanding of their price distribution.
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