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
Let’s say you have 5 numbers: 3, 7, 2, 80, 8.
The average (or mean) is the total divided the # of numbers: (3 + 7 + 2 + 80 + 8) / 5 = 20
The median is the middle value after putting the numbers in order: 2, 3, 7, 8, 80 – the middle value, or median, is 7.
What this tells us is that, although 20 is the average, the distribution of the values is that at least half the numbers are well below the average. In fact, 4 out of the 5 numbers are well below the average. The average is skewed by a few very high numbers (in this case, one very high number).
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