I use several examples to illustrate the difference between a mean and a median. If you want to compare basketball players, you would use how many points they had scored on average during a game. Total their points scored during the season and divide by how many games. So, Michael Jordan would have an average of say 30 points and you may then compare him to other players.

But with Real Estate, Bill Gates could move into the neighborhood and build a 25-million-dollar mansion skewing the average 250,000-dollar home price to 20 million! So, the median price is more appropriate. The lowest and highest are discounted and the center price prevails.

Bank salaries. The janitor makes 30K per year, the tellers 50K, the loan officer 75K and the bank president 250K per year. So, the average salary at the bank is 101K? For salaries, the median is more appropriate.

Can anyone think of other differences?