Using the mean average would show that the average American possesses 1 ovary and 1 testicle.
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The mean makes plain the vast income inequality in the country. 1% w hundreds of thousands of cash on hand. 99% w 500 bucks.
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Unbelievable. With Bloomberg reporters jumping in on that thread trying to give article credibility.
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The mode is pretty much nothing, right?
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And most people don’t understand the difference between mean and median or why it’s important. Ugh.
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can't imagine anyone would be disinclined to accurately report their cash wealth
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Great catch.
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Maybe it’s just a misplaced decimal point?
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Well...I’m below average on that scale.
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Pretty funny to be honest
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understanding numbers is haard
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Ignoring median is consistently the greatest abuse of statistics. Business Insider in Feb: Of the Americans who have savings accounts, the median savings account balance is $5,200. The average, or mean, balance is $33,766.49.
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It's like they love getting bashed.
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from a self-selecting survey. :-|
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