Wow you're right, per capita income refers to the average. I assumed he meant median because the average is so famously a useless measure for income that I didn't think anyone used it anymore.
I often wonder if it got introduced by someone who was half awake in their statistics class and got the misunderstanding that all real world things are normally distributed, and normally distributed things have the mean and median coincide.
Wow you're right, per capita income refers to the average. I assumed he meant median because the average is so famously a useless measure for income that I didn't think anyone used it anymore.
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I often wonder if it got introduced by someone who was half awake in their statistics class and got the misunderstanding that all real world things are normally distributed, and normally distributed things have the mean and median coincide.