I was looking up the average networth of 30 year olds in the United States and it said: “The average net worth is $122,000 and the median net worth is $35,112” my brain is too smooth please help.
In: 8
Average is where u take every persons income and add it up, then divide by how many people you counted.
Median is finding out what the person who is in the middle of the pack earns.
These two things are not always the same.
If you have 10 people earning medium wage, and 5 people earning super high wage. Then the average will be a lot higher than the medium wage, but the median will be the medium wage. In this way the median better respresent the “average person” because it doesn’t get impacted by super high (or low) earners.
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