3.11: Midrange
A somewhat easy to compute quantitative estimate of a data set’s central tendency is its midrange, which is defined as the mean of the minimum and maximum values of an ordered data set.
Simply put, the midrange is half of the data set’s range. Similar to the mean, the midrange is sensitive to the extreme values and hence the prospective outliers. However, unlike the mean, the midrange is not sensitive to all the values of the data set that lie in the middle. Thus, it is prone to outliers and does not accurately represent the central tendency of the data set.
Due to these disadvantages, the midrange is not used much. Nonetheless, in a relatively fluctuation-free data set, it can be easily calculated to obtain a quick estimate of the central tendency.
