• Average reflects entire population’s level. Over a given period, each member’s change is reflected.
• Median is useful when you want a typical/representative value. Average can be highly misleading

— domain: percentile ranking of my schools (about 5 of them)? Median is better
— domain: my grades in a given school: average is slightly better
— domain: cost of each stock position, among 100+ stocks? average is better
— domain: wealth among Singapore households? Paradoxically, average is misleading
— domain: