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OMG what does this mean??
"Averages are the products of extremes."
Its math related... please explain fully what you think! I have an idea, but I dont think its correct, so like I'll compare it with yours.
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That means that in a number that gives an average, it includes extreme numbers, which are far away from the average as well. Think of it this way. Say the average price of a lunch is $5. That could mean that you had one lunch at $4, one at $5, and one at $6. That averages to $5. But you could also have several people who ate a string cheese and a peanut butter sandwich from home, which costs less than $1 per lunch, many people who spent $5 at the cafeteria, and two people who went to an expensive restaurant and spent $40 each on their lunches. See what they mean? There are the extremely cheap lunches and the extremely expensive lunches averaged into the equation to come up with the mean average. It applies to things like the economy most. There are people making the average salary, but there are also people making significantly more or less than that as well. One millionaire averaged with 12 welfare recipients would come up with an average income which does not accurately describe what each individual makes. See? In these cases, it is more statistically descriptive to use either the median (the middle number if all the numbers are listed in order) or the mode (the most frequently-occurring number) than the mean (all results are added and the sum is divided by the number of results). Hope I have helped.
Sabine
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