Averages are useful and easy to calculate but can be skewed ... average and median incomes are not too different, both measures may reasonably summarize incomes. But when averages exceed medians ...
and doesn’t lead to a skewed distribution of earnings. The ONS says the median is a better indication of typical pay than the mean average (which simply adds up all pay and divides it by the ...
The median home in Winnebago ... which would mean taking the sum of all listing prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high price.