The answer key in the textbook confirms: (i) False (ii) True (iii) False (iv) True (v) False. Statement (i) is false because the sum of deviations equals zero only for arithmetic mean, not median. Statement (ii) is true as averages alone cannot fully compare series without considering dispersion. Statement (iii) is false because median is a positional value, not arithmetic mean. Statement (iv) is true as upper quartile represents the lowest value of the top 25% of items. Statement (v) is false because median remains unaffected by extreme values - it's the arithmetic mean that is affected by extreme observations.