Posted:
@reemz.malik
Mean = $66,570
Median = $48,201
Reason: The distribution is skewed to the right. Therefore, there is tail to the right of the mean. Therefore, more than 50% of data points are to the left of the mean i.e. mean is to the right of more than 50% of data points.
Therefore,mean is to the right of median i.e. mean > median
Median is better to use because the data are skewed.
I will post the other parts sometime tomorrow.
Mean = $66,570
Median = $48,201
Reason: The distribution is skewed to the right. Therefore, there is tail to the right of the mean. Therefore, more than 50% of data points are to the left of the mean i.e. mean is to the right of more than 50% of data points.
Therefore,mean is to the right of median i.e. mean > median
Median is better to use because the data are skewed.
I will post the other parts sometime tomorrow.
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