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The distribution of the top 1% of individual incomes in the US is strongly skewed to the right. In 1997, the two measures of center for the top 1% of individual incomes were $330,000 and $675,000. Which number represents the mean income of the top 1% and which number represents the median income of the top 1%?

The distribution of the top 1% of individual incomes in the US is strongly skewed to the right. In 1997, the two measures of center for the top 1% of individual incomes were $330,000 and $675,000. Which number represents the mean income of the top 1% and which number represents the median income of the top 1%?

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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The distribution of the top 1% of individual incomes in the US is strongly skewed to the right. In 1997, the two measures of center for the top 1% of individual incomes were $330,000 and $675,000. Which number represents the mean income of the top 1% and which number represents the median income of the top 1%? There is not enough information to tell which is whicn. $330,000 is the median and $675.000 is the mean. $330,000 is the mean and $675,000 is the median.
Transcribed Image Text:The distribution of the top 1% of individual incomes in the US is strongly skewed to the right. In 1997, the two measures of center for the top 1% of individual incomes were $330,000 and $675,000. Which number represents the mean income of the top 1% and which number represents the median income of the top 1%? There is not enough information to tell which is whicn. $330,000 is the median and $675.000 is the mean. $330,000 is the mean and $675,000 is the median.
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