4 ms·
That's the point of removing the top 10% and bottom 10% from the equation. Which I noted in the comment you replied to. The top 10% radically skews the picture.
by adventureful 14y ago
That's the point of removing the top 10% and bottom 10% from the equation. Which I noted in the comment you replied to. The top 10% radically skews the picture.
Calculating wealth by a median, in a nation of 300 million people, only barely kinda-sorta works if you have a very large number of data points, otherwise you get a completely useless data point. Also, medians don't work very well due to population bunches when it comes to wealth, it's not smooth. So if your middle numerical just misses a wealth spike a few points up above the median how useful is your information? If it just misses a big wealth plunge a few points down, what does it tell you about the health of the people in the bottom 40%?
- dredmorbius 14y agoA/K/A a "trimmed mean".