Median
Median is a measure which is easy to understand and easy to determine. It is the halfway point in a data set and hence known as the positional average. Since it is not dependent on the actual values in the data set, it is less affected by extreme values. Against these merits, median is not based on all values and is not capable of algebraic treatments. It is also affected by sampling fluctuations.
Median is also a measure of position along with quartiles and Deciles. Median can also be understood as the second quartile or 50^{th} percentile.