this post was submitted on 03 Dec 2022
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[โ€“] [email protected] 4 points 2 years ago (1 children)

I understand the difference between median and average perfectly fine. What I'm saying is that the median is what's relevant because that's what represents the wealth of a typical person. The problem with using average is that it doesn't account for inequality meaning that high average wealth could be in practice hoarded by a handful of rich people while the rest of the population remains poor.

[โ€“] [email protected] 3 points 2 years ago

Yep, if they gave us an average without showing us the distribution, then that would be meaningless