2 ms·
Yes, I'm aware of the mean vs median distinction. But if someone states that the majority of the country has an income below X, and I find out that the average
by whack 10y ago
Yes, I'm aware of the mean vs median distinction. But if someone states that the majority of the country has an income below X, and I find out that the average wage in the country is actually 8X, I'm going to be extremely skeptical of the original statement. The amount of income inequality that is needed to produce a situation like that, is so extreme that no one should believe it without supporting data.
As it turns out, I was right. The other person to reply to me, dug up evidence showing that only 22% earn below the intl poverty line. Not "the majority" as was stated.