Suppose you are given the following information regarding a study of resident's incomes in a small town

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Suppose you are given the following information regarding a study of resident's incomes in a small town in New Jersey:

Mean Income: $54,378

Median Income: $97, 384

How might you explain the difference between the Mean and the Median, and what might it suggest about the distribution of wealth in the town?

Related Book For answer-question

University Physics with Modern Physics

ISBN: 978-0321501219

12th Edition

Authors: Hugh D. Young, Roger A. Freedman, Lewis Ford

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Posted Date: Jan 11, 2021 05:40 AM

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Suppose you are given the following information regarding a study of resident's incomes in a small town

Question:

Expert Answer:

Ans Mean and median are different when distribution is skewed on one side instead o... View the full answer

University Physics with Modern Physics

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