average income

Don’t Confuse Average Values with Market Prices.

What is average values?

A Google search for ”Average Income” will show data for different regions.

But what do you refer to that data for?

For example, how do you use the following numbers?

  • Average score of on-campus test
  • Voter turnout of national elections
  • Average annual salary of workers in the world

The larger the target, the harder it is to use the average value.

This is because the average value is the sum of all the data divided by the number of people.

Are you relieved if your test scores are above average?

Are you miserable if your income is below average?

For example, the Japanese are especially people who want to know if they are always average.

The average household savings in the country is above $ 150,000.

However, more than 70% of Japanese cannot afford such a large sum of money.

Do not confuse average values with market prices (mode).

The average value may be useful information for the person in charge of it.

However, it may be foolish to think that “the upper side is better and the lower side is inferior”.

WorldData.info: Average income around the world

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