6 ms·
> 48% of wager earners had net compensation less than or equal to the median wage I'm surprised. I expected that 50% of wage earners would make less or equal t
by lorax 8y ago
> 48% of wager earners had net compensation less than or equal to the median wage
I'm surprised. I expected that 50% of wage earners would make less or equal to the median wage. If for no other reason than the definition of median.
- deleted 8y ago[deleted]
- cybersol 8y agoYeah I looked for a * or reference of some kind, but did not find one. I think they are using 30k as the threshold for the 48% number, while the median is the 31k and change number.
- gumby 8y agoIt might have to do with rounding and the resolution of the cohort binning -- 48% being pretty close to 50%.
- tonysdg 8y agoUh, are you thinking mean? Median is lining up every salary, counting to N/2, and selecting the number you happen to fall on.
- ralusek 8y ago...which is exactly what they've described.
- sin7 8y agoTies. It's probably because of rounding.
- tomrod 8y agoSure. Median(Variable) = Probability(value<=Variable) = 50%.
- neaanopri 8y agoIf you're going to be this pedantic, 50 is greater than 48. They're not wrong.
- deleted 8y ago[deleted]
- Izkata 8y agoSomeone further up made a similar comment, and got a non-pedantic response: wages don't include bonuses, but net compensation does. That's why it's not 50%.