Mean versus median wealth
Five households hold wealth $0, $20k, $30k, $50k, $900k. Mean=$200k; median=$30k.
- A high outlier pulls the mean.
- Trace the worked reasoning before selecting the conclusion.
income, wealth, opportunity, institutions, and measurement
Five households hold wealth $0, $20k, $30k, $50k, $900k. Mean=$200k; median=$30k.
Pause. Find what matters. Then make your move.