Once every three years, the Board of Governors of the Federal Reserve System collects data on household assets and liabilities through the Survey of Consumer Finances (SFC). In 2016, transactions accounts, which include checking, savings, and money market accounts, are the most commonly held type of financial asset. The mean value of the transaction accounts per household was $40,200, and the median value was $4,500. What is the differences between the two measures of center?

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The mean and median are two measures of central tendency used to describe the center of a data set T... View the full answer