Statistics: Informed Decisions Using Data (4th Edition)

Published by Pearson
ISBN 10: 0321757270
ISBN 13: 978-0-32175-727-2

Chapter 3 - Section 3.1 - Assess Your Understanding - Explaining the Concepts - Page 140: 47a

Answer

The median is best because there are some few people whose net worth is high (very high for some) and these high net worth values affect the mean a lot, but not the median.

Work Step by Step

Take for example 9 people, each of them with a net worth of 100 thousand dollars. If you put among them one person with a net worth of 1 billion dollars, their new mean will be about 100 million dollars, but the median remains equal to 100 thousand dollars.
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