If you want to argue about income distribution

Discussion in 'Politics' started by billwald, Apr 4, 2010.

  1. billwald

    billwald
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    You all need to learn the difference between median and mean (average). The published numbers are most always median numbers and almost never mean numbers. One is meaningless without the other. Illustration:

    Five people sitting in a cafe. Their median income is $40K and their mean income is $50K. Bill gates walks in. The median income of the six increases to $20K and the mean income increases to $50 million.
     
  2. billwald

    billwald
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    TYPO TYPO!!!!! should be

    Five people sitting in a cafe. Their median income is $40K and their mean income is $50K. Bill gates walks in. The median income of the six increases to $42K and the mean income increases to $50 million.
     
  3. tinytim

    tinytim
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    Billwald is a genius!... kudos.
     
  4. Salty

    Salty
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    So are you saying that Bill should be required to share some of his genius with you.....
     
  5. Trotter

    Trotter
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    Median income and mean income don't mean diddly when King Zero wants to take all your median and mean and give it everyone else who doesn't make as much as you... or doesn't bother to try.

    Yeah... real genius.

    /sarcasm
     

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