Fun stats trick: you can quickly estimate the median of some distribution just by drawing 5 random samples.
There's a >90% chance that the median is between the highest and lowest values of the drawn samples
#MathsSky #Math #Math
There's a >90% chance that the median is between the highest and lowest values of the drawn samples
#MathsSky #Math #Math
Comments
Which gives the probability as 1 - 0.0625 = 0.9375 = 93.75% chance of the median being between the highest and lowest values.