As a former Russian, and a son of a medic, I can smell these pictures, so much they are authentic. It is a mixture of urine, chlorine, cold air, and cheap drugs. A terrible smell I need to say. A one cannot be erased from memory.
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For those who say "but Russian GDP is so high!" or "but average wealth is bigger than in Ukraine!" Guys, this is Norilsk, the home of world biggest nickel producer. 177,000 ppl live in Norilsk. The owner of NorNickel Prokhorov has $11bn wealth. This makes $62,000 per person, aha.
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I'm confused about why you keep showing us mysterious dirty city pictures instead of just telling us median incomes to avoid the well-established statistical issues with per capita income
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I believe modal is better, but that data strangely isn't always made available
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Modal doesn't really mean anything for a continuous distribution like income
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It gives you the most common wage and so Joe Bloggs wage. How is that not the least weighted and most important!
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because $4931.98 is different than $4932.03
So the most common wage is going to end up being a somewhat random number
Median is better, I don't think I've ever seen anybody discuss modal income
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A modal is an average, and actually the absolute opposite of random. They don't want to highlight modal, but they should. It is what most of the people take home whilst median is weighted upwards!
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Mean, median, and mode are all different things.
Mean is the average. Mode is the most common.
Again, mode means nothing in a continuous distribution like income.
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How can what most people take home, mean nothing? Complete nonsense.
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First answer here. It's because it's a (fairly) continuous distribution.
Except it isn't, most people in many countries get close to minimum wage. I mean Nationally too. WRT going down to pence. Fair pont but there are lots of sensible ways of banding the data without misrepresenting Joe Blogs wage as median or far worse as you pointed out, mean.