The median and mean of a set of data can often times be quite different from one another. One example of this is household income in the United States. According to the U.S. Census Bureau’s 2014 Annual Social and Economic Supplement, mean household income in 2014 was $72, 641, while median household income was $51,939.
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Write My Essay For MeWhy are the mean and median so different in this case? Find another example of a statistic in which the mean and median values would be expected to be quite different and explain the difference.
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Math211(statistics) Discussion 1
The mean and median are statistical measures that can be used to explain the difference between a given set of data. Furthermore, the two measures can be used to give meaning to a given | PLACE YOUR ORDER NOW AT writtask.com | e mean is used to explain normal distributions, the median is used to describe skewed | PLACE YOUR ORDER NOW AT writtask.com | distribution is one whose data points seem to cluster more on one side of a given scale as compared to the other side.
It is the skewness that can be used to explain the difference between the mean and median for the case of household income in the | PLACE YOUR ORDER NOW AT writtask.com | income of some households can be larger than other h | PLACE YOUR ORDER NOW AT writtask.com | is no balance or an expected average for | PLACE YOUR ORDER NOW AT writtask.com | disparities mean that either many people earn higher salaries or a more significant population earn meagre | PLACE YOUR ORDER NOW AT writtask.com | the country (Rousselet & Wilcox, 2019). The skewness which explains the median will be different from the value given by the mean, which in this case is simply the average earnings of the whole population.
Another example that can be used to explain the difference between the median and the mean is the salary of employees in a given | PLACE YOUR ORDER NOW AT writtask.com | scales are drawn, senior company employees such as the CEO, the chief finance officer or the general manager of must be massive earners as compared to other low cadre | PLACE YOUR ORDER NOW AT writtask.com | distribution will be likely to be skewed to the right, and the mean may be higher than the median.
References
Orenstein, P. (2019). Robust Mean Estimation with the Bayesian Median of Means. arXiv preprint arXiv:1906.01204. https://arxiv.org/abs/1906.01204
Rousselet, G. A., & Wilcox, R. R. (2019). Reaction times and other skewed distributions: problems with the mean and the median. Meta-Psychology. https://eprints.gla.ac.uk/189893/1/189893.pdf
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