The Mean (aka Average) and the Median Defined, Calculated/Explained and Compared in One Minute

It's ridiculous just how many statistics-related errors revolve around an improper understanding of the mean and the median. Now most people "kind of, sort of" know what the mean is, something they tend to refer to as the "average" but that's just not enough.

Today, I've done my best to define, explain as well as complain the mean as well as average. You'll find out what the mean and average are (the definition), how you can calculate them (the explanation) and what the main differences between the mean and the median are (the comparison).

Simply put, you'll know:

1) What the mean/average is and how you can calculate it

2) What the median is and how you can calculate it

3) What the similarities as well as differences between the mean/average and the median are

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[dineshssairam]

It's not about what's more realistic. They both tell different stories. Only the applicability differs. Even The Mode gives you a different picture (Probability).

[TheJohnCooper]

This should be explained to feminists about the pay gap myth

[SomEbodyisDERP]

Ah, the median does sound more realistic. But then again I think someone who earns a million would want to be in an exclusively rich neighborhood anyway.