Re:Explore Wealth and Income Inequality in the World Wealth ...
by IncRnd on Wednesday November 08, 2017 @12:07PM
(#15654361)
What do you mean by "depends on which average"? As far as I know, average is another word for mean, and median is the middle value, unrelated to mean.
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Re:Explore Wealth and Income Inequality in the World Wealth ...
by meheleventyone on Wednesday November 08, 2017 @02:15PM
(#15655886)
I guess I was colloquially referring to the difference we would see depending on whether the mean, median or mode was used. At least from my (British) point of view these are all called an “average” generally speaking. Hopefully the second and third sentences cleared that up as I specifically describe what I meant in terms of the mean and median.
Re:Explore Wealth and Income Inequality in the World Wealth ...
by IncRnd on Wednesday November 08, 2017 @03:56PM
(#15656933)
Thank you for the clarification.
Re:Explore Wealth and Income Inequality in the World Wealth ...
by JohnStrange on Wednesday November 08, 2017 @12:16PM
(#15654460)
He probably meant to say "measure of central tendency".
Re:Explore Wealth and Income Inequality in the World Wealth ...
by IncRnd on Wednesday November 08, 2017 @01:50PM
(#15655621)
You might be right. I'm not sure why I was downvoted for asking for a clarification.
In any case, it wasn't clear if he meant the average person or an average about wealth or income. Average could have meant a colloquial reference to the average person, or it could have been a misuse of the statistical term.
Re:Explore Wealth and Income Inequality in the World Wealth ...
by meheleventyone on Wednesday November 08, 2017 @02:17PM
(#15655910)
Sorry I meant wealth and thought that was obvious from talking about wealth inequality as opposed to income inequality.