4 ms·

Note that the arithmetic mean is very outlier sensitive.

by gatehouse 12y ago

josu 12y ago
Yeah, it seems like the median should be much lower.
baddox 12y ago
Especially when there are relatively few cars. Last December they announced selling their 400th Veyron.
TrainedMonkey 12y ago
Top person would need to own ~30k cars, and rest can own just an average of 8 for combined arithmetic mean of 84. Essentially all this number tells us that 400 people who own Buggati collectively own ~33600 cars total.[0] For example Jay Leno alone owns 886 vehicles according to his wikipedia page. [1] [0] This has assumption that no one owns, more than 1 Buggati car which is probably incorrect, so I expect actual number of cars owned by Buggati owners to be in the ballpark of 24-26k. [1] http://en.wikipedia.org/wiki/Jay_Leno http://en.wikipedia.org/wiki/Jay_Leno Source: I own an oldish budget friendly Nissan, which clearly makes me an expert.
yen223 12y ago
I can imagine one person with 1000 cars, and one person who drives his Veyron to his 9-to-5 because that's the only car he could afford.
- BrandonY 12y ago
  That's an interesting idea. Image Fred Everyman. For some reason, the only car he can afford is a Bugatti Veyron, and he needs a car to get to work. How much does this cost Fred? A basic new Bugatti Veyron seems to cost about $1.55 million. A normal car loan is for 3 or 4 years, but let's assume Fred can get a 30 year loan. He's got pretty good credit, and he ends up with a 4% interest rate. Unfortunately, Fred also needs auto insurance, which for a Veyron will run about $50,000 per year. Fred's loan payment is about $7900/mo, and his insurance payment is about $4166/mo. Oh, and a Veyron only gets about 7mpg in a city, so we'll say his monthly gas bill is another $300. Add that up, and Fred needs to make $12366 per month, post-tax, just to pay for his car (not counting tires, tune-ups, fixing the paint after people tag it). In order to have $12,366 of monthly net pay, Fred needs an annual pre-tax salary of around $315,000. So a $315,000 yearly salary will allow Fred to own his Veyron in 30 years. If he wants to eat food or live somewhere, though, he'll of course need more. (Warning: I almost certainly made at least 3 major mathematical or accounting errors in there somewhere).
johngalt 12y ago
E.G. People named Bill Gates have a lot of money on average.

Note that the arithmetic mean is very outlier sensitive.

josu 12y ago

Yeah, it seems like the median should be much lower.

baddox 12y ago

Especially when there are relatively few cars. Last December they announced selling their 400th Veyron.

TrainedMonkey 12y ago

Top person would need to own ~30k cars, and rest can own just an average of 8 for combined arithmetic mean of 84. Essentially all this number tells us that 400 people who own Buggati collectively own ~33600 cars total.[0] For example Jay Leno alone owns 886 vehicles according to his wikipedia page. [1] [0] This has assumption that no one owns, more than 1 Buggati car which is probably incorrect, so I expect actual number of cars owned by Buggati owners to be in the ballpark of 24-26k. [1] http://en.wikipedia.org/wiki/Jay_Leno http://en.wikipedia.org/wiki/Jay_Leno Source: I own an oldish budget friendly Nissan, which clearly makes me an expert.

yen223 12y ago

I can imagine one person with 1000 cars, and one person who drives his Veyron to his 9-to-5 because that's the only car he could afford.

BrandonY 12y ago
That's an interesting idea. Image Fred Everyman. For some reason, the only car he can afford is a Bugatti Veyron, and he needs a car to get to work. How much does this cost Fred? A basic new Bugatti Veyron seems to cost about $1.55 million. A normal car loan is for 3 or 4 years, but let's assume Fred can get a 30 year loan. He's got pretty good credit, and he ends up with a 4% interest rate. Unfortunately, Fred also needs auto insurance, which for a Veyron will run about $50,000 per year. Fred's loan payment is about $7900/mo, and his insurance payment is about $4166/mo. Oh, and a Veyron only gets about 7mpg in a city, so we'll say his monthly gas bill is another $300. Add that up, and Fred needs to make $12366 per month, post-tax, just to pay for his car (not counting tires, tune-ups, fixing the paint after people tag it). In order to have $12,366 of monthly net pay, Fred needs an annual pre-tax salary of around $315,000. So a $315,000 yearly salary will allow Fred to own his Veyron in 30 years. If he wants to eat food or live somewhere, though, he'll of course need more. (Warning: I almost certainly made at least 3 major mathematical or accounting errors in there somewhere).

johngalt 12y ago

E.G. People named Bill Gates have a lot of money on average.