3 ms·
TIL that people talk about the median as a kind of average. Guess I’ll stop making the remark then!
by rtpg 3y ago
TIL that people talk about the median as a kind of average. Guess I’ll stop making the remark then!
- pi-e-sigma 3y agoMean, median and mode are the three most commonly used averages. Mean itself can be of various types, such as arithmetic, geometric, harmonic and others. Median is a pretty good average because it excludes the extremes. Its 'superiority' compared to the arithmetic mean is can be easily explained by a hypothetical situation where you have 100 people and 99 of them are making $1000 a month while only one making $100000. The arithmetic average salary of this whole group is $1990 a month which is clearly not what most people would intuitively consider as the 'proper' average.