Just something i thought was interesting’s. I have always been surprised by how much high the GDP/capita in the US was vs the UK. Then it occurred to me that GDP/Capita is an average value (yes…not a revolutionary thought), and I decided to compare mean and median values for these countries.
It really highlights (In my opinion) the impact that the super wealthy have on these metrics. The data i used was a bit..scatty…but the premise seems sound.
If a mean and a median are very different, then the data almost certainly has a large standard deviation and the mean needs to be treated with caution.
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I used powerBI, excel, and my lunch break.
Just something i thought was interesting’s. I have always been surprised by how much high the GDP/capita in the US was vs the UK. Then it occurred to me that GDP/Capita is an average value (yes…not a revolutionary thought), and I decided to compare mean and median values for these countries.
It really highlights (In my opinion) the impact that the super wealthy have on these metrics. The data i used was a bit..scatty…but the premise seems sound.
If a mean and a median are very different, then the data almost certainly has a large standard deviation and the mean needs to be treated with caution.
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