: what’s the difference between median and mean

Question

Saw this mention in a previous post, and it got me thinking, what are the differences?

Maybe I already know, but u der different names, English is 2nd language.

In: 1

Answer 1

Suppose you have 99 people who have $1, $2, $3, $4, $5, …, $99.

– Median net worth: $50
– Mean net worth: $50

If you add Jeff Bezos to the room:

– Median net worth: Still $50
– Mean net worth: $1,000,000,000