Irving Fisher,
The Purchasing Power of Money…
“ It also has the advantage of easily exhibiting (by means of the "quartiles") the tendency to dispersion of prices (from each year as a base to the next) on either side of the median. The median should be weighted in round numbers analogously to the weighting already discussed for the more theoretically perfect index numbers.*52 The median of a series of numbers is a number such that there are as many numbers above as below it in the series. If the number of terms in the series is odd, the median is the middle term of the series of numbers arranged in the order of magnitude. ”
