On Tue, 23 Aug 2005 20:36:04 -0700, "Seth Masia"
wrote:
Umm -- the definition of median is that half the range is higher and half is
lower. This means that if the median is $42,000, and there are 100 million
households, then 50 million households make more than $42k.
That sounds like an average rather than a median.
If you take the lowest number income to the highest and put them in
order the number in the middle would be the median.
In fact the average income is higher, because it's pulled up by the very
wealthy households making millions per year, and that's not offset by
That would pull the median up more than the average.
Average is the total income of all the households divided by the
number of households. One family making $500,000,000 against several
million in the $40,000 range would have little effect on the average
and a big hit on median.
households making negative income (we don't allow individuals to rack up
millions in debt -- only corporations). The mathematical average might be
around $60k or even higher.
snip
Jay Honeck wrote:
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There are many people out there who should never get near an airplane
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