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0 pointseverdev7y ago0 comments

> Chances to be better off than the median are exactly 50%.

No, if a sample size of monthly salaries is: $1k, $3k, $4k, $10k, $12k

The median is $4k. Achieving better than that may indeed be a slim chance if it represents a level up in seniority. Your background and skills matter.

Also, in this sample size, only 40% are above median. If you measure everyone salary to the dollar, it will approach 50% but never get there. In fact above median will always be < 50% by definition.

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gilbetron7y ago· 2 in thread

$1k, $3k, $4k, $10k, median is $3.5k, with exactly 50% being above, and exactly 50% being below. The same happens with any sample with an even number.

sokoloff7y ago

$1K, $1K, $1K, $10K...

everdevOP7y ago

Which is what most national income distributions look like. With the vast majority making below or well below the median income. Hence the fuss about the 1% controlling so much wealth.

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