Tuesday, October 18, 2016

Correction

I had an inkling I had misstated the statistics in my update to yesterday's post. A visitor explains my problem:
In the "update" paragraph of today's post, you seem to have confused the "mean" and the "median" -- which are not the same. The "mean" is the arithmetic average, obtained by dividing the total of all gifts by the number of givers. The "median" is the fiftieth percentile -- the amount that has an equal number of equal or larger and equal or smaller donations. . . . It's pretty normal for twenty percent of the donors to account for eighty percent of the donated funds -- and a few large donations really do skew the mean[.]