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A comment on Same Stats, Different Graphs: Datasets with Varied Appearance and Identical Stats. Parent comment

Re:Same Stats, Different Graphs: Datasets with Varied Appear... by rodionos on Tuesday May 02, 2017 @11:06AM (#14246937)
I think the public is largely aware of the difference since housing prices are often reported using the median. Intuitively, everyone knows that median housing price is the price of a 'regular' (most frequently sold) house in a given area.
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Re:Same Stats, Different Graphs: Datasets with Varied Appear... by xmj on Tuesday May 02, 2017 @12:45PM (#14248007)
The most regularly encountered house price at sale would be the mode.

Median is the value at which 50% of houses trade higher as well as lower.

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Re:Same Stats, Different Graphs: Datasets with Varied Appear... by ganley on Tuesday May 02, 2017 @11:11AM (#14246991)
I'm not at all sure that's true. That is, I agree that many people probably understand that mean and median are both things, but suspect that a minority of them understand how and why they are different, or when and why one makes more sense than the other.
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