That’s why median is a better measure of income distribution
That’s why median is a better measure of income distribution
Interesting. I get why median would be a better measure of distribution, but I had (perhaps mistakenly) thought if c-suite execs across the border were being paid more (they are) that would also raise the median. Thanks! Much more of a words gal. Numbers give me hives. 🙃
An example to keep in your back pocket: patrons in a small bar have an average and median net wealth of $10,000. (Half of them have $10,000 or less). Musk and a Buddhist monk walk into the bar. The average wealth is now in the billions, but the median is still $10,000.
Appreciate ya, Jim!!