There is not just one “average”, but several. Depending on the information you wish to describe, or the point you’re trying to make, you can use the mean, median, or mode to describe the average. Here’s a nice article from Darwin’s Finance website, which has the byline “Financial Evolution: Education, Adaptation, Achievement”, showing how great the difference can be between the mean and the median. Use this as a nice resource when teaching about statistics, which can be called the power of mathematical persuasion.
The author gives definitions of the two terms and then points out some great money-based examples, sure to catch the eyes of your students. Here’s the link to the article:
Median vs. Mean: Know the Difference or Risk Being Manipulated
To receive all new posts – subscribe via email or RSS Web Feed.
Related posts: