How To Find Midrange Of A Data Set

Formula to Calculate Midrange of a Number

Midrange formula is used in order to calculate the middle value of the two number given and according to the formula the given two number are added and the resultant is divided by the ii in guild to get the midpoint value of the two.

The midrange tin be defined every bit the middle point of a range of numbers. The mid-range of a series of the number volition be the boilerplate of the highest number and the lowest number of that series. If a series of number has 10 observations and the highest point of that ascertainment is 250, and the lowest betoken is 50. So the range for that observation will exist from fifty to 250.

Midrange = (Highest Value+ Lowest Value)/2

Table of contents

• Formula to Calculate Midrange of a Number
  • Examples
    • Instance #i
    • Example #2
    • Example #3
  • Relevance and Use of Midrange Formula
  • Recommended Articles

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Examples

You lot tin can download this Midrange Formula Excel Template hither – Midrange Formula Excel Template

Example #1

Let us endeavour to find out how to summate the midrange with the help of an example. Let us try to analyze the superlative of a form of 8 students in centimeters. Suppose the heights of each student in the form are 124, 130, 115, 118, 110, 135, 145, and 117. In order to calculate this for the whole population, we need to find out the highest value and the lowest value of the observed values.

Solution:

Use the post-obit information for the adding

The highest value of the observed heights will be-

Highest Value = 145

The lowest value of the observed heights will be-

Lowest Value=110

So, the calculation of midrange can be done as follows-

= (145+110)/two

The case shows that the midrange for the observed value is 127.5 centimeters.

Case #2

Let u.s. try to find out how to summate the midrange with the help of another example. Let us effort to analyze the weight of a form of 8 students in kilograms. Suppose the weights of each student in the grade are 45, 49, 54, threescore, 42, 65, 56, and 59. In order to summate this for the whole population, nosotros need to find out the highest value and the lowest value of the observed values.

Solution:

Utilize the following information for the adding of the midrange.

The highest value of the observed weights will be-

Highest Value =65

The everyman value of the observed weights will be-

Lowest Value = 42

So, the adding of midrange can be done as follows-

= (65+42)/2

The example shows that the midrange for the observed value is 53.v kilograms.

Example #3

Permit us effort to find out how to summate the midrange with the help of another example. Let us try to analyze the price of a serial of Samsung phones sold in a shop. Suppose the price of a range of Samsung phones are $160, $168, $185, $195, $115, $186, $125 and $150. In gild to calculate this for the whole population, we need to find out the highest value and the lowest value of the observed values.

Solution:

Utilise the post-obit data for the calculation of the midrange.

The highest value of the observed prices will be-

Highest Value =195

The lowest value of the observed prices will be-

Everyman Value =115

So, the calculation can exist washed as follows-

= (195+115)/2

Relevance and Use of Midrange Formula

The midrange formula is relevant in practical life. Like the mobile instance nosotros discussed in a higher place, a company has a range of phones with various toll points A price point (PP) is a selling price that a manufacturer or retailer recommends for its product or service to remain competitive in the market while likewise making a turn a profit. read more at any given point of fourth dimension. So with the help of finding out the mid-range of the series of phones, i tin can make out whether the particular model of the phone he is looking for is above the average price or below the boilerplate price. If we notice out midrange of the weights of a form of students, so past having that, we tin brand a judge whether a particular student is overweight or underweight in that class.

Recommended Articles

This has been a guide to Midrange Formula. Hither we learn how to calculate the middle value of ii given numbers forth with practical examples and a downloadable excel template. Y'all tin learn more well-nigh excel modeling from the post-obit articles –

• What is Harmonic Mean? Harmonic Mean is the reciprocal of the arithmetic hateful of the reciprocal of numeric values. This is calculated by dividing the number of values in a given dataset by the sum of every value'due south reciprocals. read more
• Formula of Weighted Hateful
• Percentile Rank Calculation
• P Value Formula Calculation
• Annualized Rate of Return Formula

Source: https://www.wallstreetmojo.com/midrange-formula/

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