Wouldnt mean salary be a better representation of the public then median?
In: Other
Take a million people, and pay each of them $1000/month. Mean and median are both $1000, and you have a grand total of $1B/month in salary. Now choose imagine you double that number to $2B/month, according to one of two scenarios:
* Scenario 1: Everybody earns $2000/month. Mean and median are now both $2000.
* Scenario 2: Almost everybody still earns $1000/month, but one single person now earns $1,000,001,000 per month. Mean is $2000, but median is still $1000.
In fact, as long as you have 1M people and $2B, you always have $2000 of mean salary, because that’s how you calculate the mean. Instead, the median gives you some sort of perspective for what the “shape” of the numbers looks like.
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