What is the method for calculating the median?

The median is defined as the middle value in a data set when the values are arranged in ascending or descending order. To find the median, you first organize the data points in a sequence, and then you identify the value that lies in the center of this ordered list.

If the total number of observations is odd, the median is simply the value at the middle position. On the other hand, if the total number of observations is even, the median is calculated by taking the average of the two central numbers. This method effectively captures the central tendency of the data set, making it resilient to extreme values or outliers, which can skew the mean.

The other options represent different statistical concepts: summing values and dividing by count pertains to calculating the mean, identifying the most frequently occurring value refers to the mode, and calculating the highest value minus the lowest value relates to determining the range. Each of these serves a distinct purpose in statistics, but they do not define the process of finding the median.