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Average without median is a recipe for misperception[1]. CNBC should know better. But if it's supposed to be clickbait then great job! [1] For example, this ty

Average without median is a recipe for misperception[1]. CNBC should know better. But if it's supposed to be clickbait then great job! [1] For example, this type of article headline feeds the belief that the little guy/gal is being priced out of the market. However, the increases could be at the upper end, which also moves the average up. In fact, in theory, the middle and bottom can fall, and the average can still go up is the upper and top increase more than that fall.

fernandotakai 3y ago
but the median ($4400) is literally right in the article.
- chiefalchemist 3y ago
  And what is in the headline? What are most people going to read and immediately draw a conclusion? A conclusion that once is in place gets more and more difficult to move (read: correct)? Journalism, real journalism, doesn't trade in such tactics.
DarkNova6 3y ago
I wish more people would understand this about averages.
- mattbrewsbytes 3y ago
  I guess only above average people do.
  - DarkNova6 3y ago
    No, only people above the median :-)
    - user_7832 3y ago
      Could I make a pun joke on HN or would that be too mean?
      - deleted 3y ago
        [deleted]
      - bombcar 3y ago
        It seems to be the mode in this thread at least.
deleted 3y ago
[deleted]
ctvo 3y ago
> Average without median is a recipe for misperception > The average monthly rent in July was $5,588, up 9% over last year and marking a new record. Median rent, at $4,400 per month, also hit a new record, along with price per square foot of $84.74, according to a report from Miller Samuel and Douglas Elliman. It’s the second line in the article.
- Affric 3y ago
  Ah good thing we dodged the psy-op where they were trying to convince us that Manhattan was out of the reach of the little guy.
- ghaff 3y ago
  It's not clear what the $84.74 price per square foot represents as it divides out to a totally unreasonable size into either of the other figures. It would be odd for an American publication but it's probably pretty close if it were square meters (so you end up at an average of 500 sq. ft. which seems about right). Or it may be for something that isn't directly related to the other two numbers.
- add-sub-mul-div 3y ago
  There's a annoyingly large community of hall monitor types here who in every thread jump to point out every bit of nuance to a topic that didn't happen to fit in the headline. Whether it was present in the article body or not. The witch hunt against clickbait has become far more annoying than the practice itself. So many people litter these comments with context that they're absolutely sure is over everyone's head but theirs.
  - chiefalchemist 3y ago
    It got shared. It should not - in the form - have gotten shared. Evidently someone didn't realize that (i.e., "average" in the title === clickbait). So pointing out the stupidity of average is on me? God bless you. The irony of your comment is also entertaining.
- chiefalchemist 3y ago

fernandotakai 3y ago

but the median ($4400) is literally right in the article.

chiefalchemist 3y ago
And what is in the headline? What are most people going to read and immediately draw a conclusion? A conclusion that once is in place gets more and more difficult to move (read: correct)? Journalism, real journalism, doesn't trade in such tactics.

DarkNova6 3y ago

I wish more people would understand this about averages.

mattbrewsbytes 3y ago
I guess only above average people do.
- DarkNova6 3y ago
  No, only people above the median :-)
  - user_7832 3y ago
    Could I make a pun joke on HN or would that be too mean?
    - deleted 3y ago
      [deleted]
    - bombcar 3y ago
      It seems to be the mode in this thread at least.

deleted 3y ago

[deleted]

ctvo 3y ago

> Average without median is a recipe for misperception > The average monthly rent in July was $5,588, up 9% over last year and marking a new record. Median rent, at $4,400 per month, also hit a new record, along with price per square foot of $84.74, according to a report from Miller Samuel and Douglas Elliman. It’s the second line in the article.

Affric 3y ago
Ah good thing we dodged the psy-op where they were trying to convince us that Manhattan was out of the reach of the little guy.
ghaff 3y ago
It's not clear what the $84.74 price per square foot represents as it divides out to a totally unreasonable size into either of the other figures. It would be odd for an American publication but it's probably pretty close if it were square meters (so you end up at an average of 500 sq. ft. which seems about right). Or it may be for something that isn't directly related to the other two numbers.
add-sub-mul-div 3y ago
There's a annoyingly large community of hall monitor types here who in every thread jump to point out every bit of nuance to a topic that didn't happen to fit in the headline. Whether it was present in the article body or not. The witch hunt against clickbait has become far more annoying than the practice itself. So many people litter these comments with context that they're absolutely sure is over everyone's head but theirs.
- chiefalchemist 3y ago
  It got shared. It should not - in the form - have gotten shared. Evidently someone didn't realize that (i.e., "average" in the title === clickbait). So pointing out the stupidity of average is on me? God bless you. The irony of your comment is also entertaining.
chiefalchemist 3y ago