Quote:
Originally Posted by EB
Medians are by definition resistant to issues of skewed distributions. You're thinking of means, which aren't usually used for measuring income as they are sensitive to distribution and can be misleading as a result.
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We aren't talking either of those.
In this case, it's the # of millionaires per population. There's nothing to average or mean. 10 millionaires is the same as 10 billionaires, because the billionaires are millionaires, so they count the same.
If someplace has 7 millionaires, and 3 billionaires and 100 people in town, it has a higher # of millionaires per capita than someplace with 3 millionaires and 7 billionaires but 110 people. The latter has a higher average and mean, but a lower per capita.