such as the average net worth of the people in a country.
And the mean average makes no sense here either, which is why incomes and wealth are almost always quoted as medians instead of means, unless they’re totals which is a roundabout way of reporting the mean (if you know the population baseline).
The more unequal a country, the larger the difference between mean and median incomes.
And the mean average makes no sense here either, which is why incomes and wealth are almost always quoted as medians instead of means, unless they’re totals which is a roundabout way of reporting the mean (if you know the population baseline).
The more unequal a country, the larger the difference between mean and median incomes.