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Mean and median are both typically taught around and better suited for use with normal distributions. Income distribution is not that complex, but it’s also no
by hammock 4y ago
Mean and median are both typically taught around and better suited for use with normal distributions.
Income distribution is not that complex, but it’s also not normal - it’s a power law (zipfs law).
A combination of Total GDP (or income) and something like the Gini coefficient is more useful. And commonly used, as well