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A very good real world illustration of mean and median [#permalink]
21 Jan 2006, 08:37
Ten people are riding on a bus in Redmond, Washington. The mean income of those riders is $50,000 a year. The median income of those riders is also $50,000 a year.
Joe Blow gets off the bus. Bill Gates gets on.
The median income of those riders remains $50,000 a year. But the mean income is now somewhere in the neighborhood of $50 million or so. A source now could say that the average income of those bus riders is 50 million bucks. But those other nine riders didn't become millionaires just because Bill Gates got on their bus. A reporter who writes that the "average rider" on that bus earns $50,000 a year, using the median, provides a far more accurate picture of those bus riders' place in the economy.
Good job people, the OA is "C". GMATT73, its interesting to note your approach, I am just wondering if it will work all the time! The remaining explanations are more of less the standard way of solving it; prash_c - nice story to explain a concept