1.75 Median versus mean for net worth. A report on the assets of American households says that the median net worth of U.S. families is $81,200. The mean net worth of these families is $534,600. What explains the difference between these two measures of center?
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The median is the middle value when the data is arranged in ascending order, while the mean is the sum of all values divided by the number of values. The difference between the median and mean net worth of U.S. families can be explained by the presence of Show more…
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