Matching Statistics to Graphs
Sometimes it is reported that the average lawyer earns a lot of money; at the same time, the median income of lawyers is reported to be more modest. One year the average team in the National Football League made a sizable profit while the median team barely broke even. People often confuse the mean and the median of a distribution. How are these statistics related to the shape of the distribution?
KeywordsStandard Deviation Stochastic Process Probability Theory Summary Statistic Variable Number
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