Tuesday, June 25, 2013

Pay Attention and Learn the Difference Between Mean and Median When Reading Charts

Median Net Wealth

Home Ownership


Photos by Zerohedge

Median can sometimes paint a different picture than the mean. The median marks the place in the data set where values cluster. The mean is the arithmetic average. You can cry poor using one tactic or the other as Germany tried to do in these charts. Skewing results by picking the data reduction method is a way to paint a picture of the chartist's desire!

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