Note that Bobert uses the word "median" in one post, and when called on it, substitutes the word "average" as he repeats the same sentence.

BTW, finding a meaningful "mean" from two numbers is a stretch under any circumstances.

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Subject: RE: BS: 58% Say The Rich Deserve Their Wealth
From: Bobert - PM
Date: 15 Jul 12 - 12:42 PM

BTW, Stim, household income is a verses just looking at the lower 50% is like comparing apples and oranges...

Bob makes $100,000
Bill makes $0
Bob & Bill's average income is $50,000

Stats 101...

B;~)

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Subject: RE: BS: 58% Say The Rich Deserve Their Wealth
From: pdq - PM
Date: 15 Jul 12 - 01:09 PM

"According to the U.S. census bureau, as of January 2012 the median family income was $50,020"

Not average but median.

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Subject: RE: BS: 58% Say The Rich Deserve Their Wealth
From: Bobert - PM
Date: 15 Jul 12 - 02:19 PM

Once again, people, read for comprehension this time:

Median income for all is not the same as medium income for the bottom half!!!

What is it that ya'll don't understand about this rather elementary statistical fact???

Example:

Bob earns $100,000
Bill earns $0
Median income = $50,000

Question: Does this mean that Bill's income is $50,000???

Answer: No, it doesn't...

The point is that when we look exclusively at the bottom half of the population the median income is a little over $26,000 a year for a family of four... With the official poverty threshold of $22,400 for a family of four that makes the bottom half of the population living at or below 125% of the official poverty threshold...

(Note: Anyone who still doesn't get this needs to enroll in a basic Stats course at your local community college... You don't even need to take the 201 level... Just take 001 remedial bonehead course... I think it's cheaper but you don't get any credit hours...)

I know, whatz credit hours???

Sheesh...

B;~)