We often read statements such as 'The average household income in the UK is £x.' But what do they mean by 'average' - the mean, the mode or the median? Consider this range of numbers:
1 2 2 3 4 4 4 5 5 6 7 7 8 9 9
What is the average? The mean is the total divided by the number of items, ie. 76 divided by 15 = 5.067
Or is the average the mode - i.e. the most commonly occurring item, which is 4.
Or is it the median, which is the number lying in the middle, so add the first and last numbers and divide by 2 which gives 5.
Three different results, any of which could be called 'the average' to suit the needs of the researcher.
Where very large numbers are involved and the two extremes are not large in relation to the whole (a bell curve of distribution) the average (mean) will not be too skewed. So if there are 30 million households and one million have an annual income in excess of one million pounds, and another million has an income of less than five thousand pounds, the resulting mean will give a reasonable average. On the other hand, if one person has an income of £100,000 a year and another person has an income of £10,000 a year, it would be nonsense to say anybody has an income of £55,000 a year.
If you know this already, my apologies, but not everybody remembers their maths lessons! I have recently been explaining it to my youngest gs so it is fresh in my mind.
🦞 The Lockdown Gang still chatting 🦞
What did you you think you would have by your current age that you don't?

