Question: According to the Census Bureau, the mean and median income in a recent year of people at least 25 years old who had a

According to the Census Bureau, the mean and median income in a

According to the Census Bureau, the mean and median income in a recent year of people at least 25 years old who had a bachelor's degree, but no higher degree were $48,097 and $60,954 respectively. Which of these numbers is the mean and which is the median? Explain your reasoning.

Step by Step Solution

3.39 Rating (149 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Majority of people having bachelors degree and no additional major degree will hav... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!