On Sat, 22 Oct 2011 11:36:33 -0400, Wayne.B wrote:

On Fri, 21 Oct 2011 10:41:27 -0400, John H
wrote:

On Thu, 20 Oct 2011 21:09:06 -0400, wrote:

On Thu, 20 Oct 2011 17:01:43 -0700, jps wrote:


How in the hell can people afford food and cable television let alone
a mortgage? This is the median income?

The median income fell in 2010 for the second year in a row to
$26,364, a 1.2 percent drop from 2009, and the lowest level since
1999, according to David Cay Johnston at Reuters.

The "median income" is the median of everyone, working or not working
in the US over the age of 14. (google it)
Household income is more relevant and that is the median of all
households, working or not working. That comes in at the $54k or
whatever.
I am not sure how they score retirees liquidating their investments,
collecting pensions and collecting Social Security.

The median income is the one in the middle. So, if one person has zero income and another has a
million dollar income, the median is $500,000.

Perhaps they're talking about the 'mean' income?

========

The "median" is where half are above and half are below. In your
example the mean and the median are the same.

You must have missed my follow-on comment.