Consider the following statement for a data set with more than two data points, "The mean and median of the data set with even number of terms is same." Is this statement correct?
Consider the following observations regarding the median of a data set:
Observation I: The median is defined only for numerical data.
Observation II: For an odd number of data points, the median is the central value after rearranging, whereas for an even number of data points, the median is the mean of two central values after rearranging.
Observation III: Unlike mode, the median may or may not be the same as an existing data point.