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Saturday, April 24, 2010

Mean/Median Confusion

Updated: Columbia University Business School Professor Ray Fisman writes in this Slate.com article:

"It's a sad statistical reality: Half of us are below average."

To be more precise, it should be "half of us are below the median."

HT: Chris Douglass

Thanks to Steve in his comment for providing information about
Fisman's background.

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