Median

Sort the observations before looking for the median. With an odd count, the middle ordered value is the median. With an even count, the foundational convention averages the two middle values.

Juniper Year 2 has 16 ordered settlement times. The eighth and ninth values are 26 and 27 days, so:

[ \tilde{x}=\frac{26+27}{2}=26.5\text{ days}. ]

The 78-day value is far from the middle but does not change which observations occupy the two center positions. That is why the median is less sensitive than the mean to the magnitude of a tail value.

Resistance is not indifference

The median can summarize a skewed distribution well, but it does not make the tail economically irrelevant. A late invoice may matter greatly for cash, credit, or customer analysis even if the median barely moves. Show the tail and report another spread or frequency view.

The median also discards distance information when locating the center. Samples [10, 20, 30] and [10, 20, 300] share a median of 20 but describe different exposure. Choose between mean, median, or both according to the question and distribution—not according to which number tells the preferred story.