Question
Five kids from the neighborhood are heading to the store to get some snacks. Kid #1 has $1, Kid #2 has $2, Kid #3 has
Five kids from the neighborhood are heading to the store to get some snacks. Kid #1 has $1, Kid #2 has $2, Kid #3 has $3, Kid #4 has $4, and Kid #5 has $5.
What's the average (mean) amount of cash the five kids have? What's the median?
Two weeks later, the family of Kid #5 won the lottery, and the kids got together to go to the store to get some snacks again. This time around, Kid #1 has $1, Kid #2 has $2, Kid #3 has $3, Kid #4 has $4, and Kid #5 has a wad of cash totals $5,000.
What's the average (mean) amount of cash the five kids have this time? What's the median?
How have the mean and the median changed? Which one - the mean or the median - is a better reflection of how much money the neighborhood kids have? Which measurement - mean or median - is better for central tendency?
Can you think of an example in everyday life where the median is reported instead of the mean? Why is that?
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