Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So basically OP is asking people to feel good because the gazillionaires got even richer?

Classic DCUM clickbait.

I would guess that OP didn't understand the difference between median and mean.

No. Quite the opposite. The title of the post states “The Average American is a Millionaire.” Average is synonymous with mathematical mean or expected value, not with median. The former is a first order statistical moment while the latter is a nonlinear operation applied to a numerically ordered set of data.

OP’s assertions are spot on. Most readers seem to have inferred something else. Understandable, if one also doesn’t the difference between mean and median.

Everybody who made it past 5th grade knows that average is not synonymous with mean. It is an ambiguous term for any measure of central tendency.

Mean, median, mode, and midpoint range are all error-minimizing for norms of different dimensions (L_2 square error, L_1 linear error, L_0 indicator error, and L_infinity max error).

No. Only stupid political science and liberal arts majors believe this after having performed an internet search to determine the answer. Sorry, you can’t rely on AI to compensate for your irrefutably weak understanding of this topic.

DP. Pot meet kettle.

I’m certain you have no idea of what’s really meant by “The former is a first order statistical moment while the latter is a nonlinear operation applied to a numerically ordered set of data.”

Feeling the need to write that median is a nonlinear operation is so blindingly obvious, so lacking in any actual information value, and yet so obtuse to many people that a real numerate person could not possibly have come up with that nugget of nonsense.

If you ARE a real person and you really did stand up on your hind legs a vomit forth that nonsense, perhaps you have a future writing high school calculus textbooks. That pedantic yet obtuse tone is perfect.

Can’t decide whether or not this is a joke in simultaneously poor taste and limited intellect or just another randomly assimilated stream of consciousness from a stereotypical DCUM dimwit.

Well played, my simplistic friend.

Go back to your whole in the wall you MAGA people

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So basically OP is asking people to feel good because the gazillionaires got even richer?

Classic DCUM clickbait.

I would guess that OP didn't understand the difference between median and mean.

No. Quite the opposite. The title of the post states “The Average American is a Millionaire.” Average is synonymous with mathematical mean or expected value, not with median. The former is a first order statistical moment while the latter is a nonlinear operation applied to a numerically ordered set of data.

OP’s assertions are spot on. Most readers seem to have inferred something else. Understandable, if one also doesn’t the difference between mean and median.

Everybody who made it past 5th grade knows that average is not synonymous with mean. It is an ambiguous term for any measure of central tendency.

Mean, median, mode, and midpoint range are all error-minimizing for norms of different dimensions (L_2 square error, L_1 linear error, L_0 indicator error, and L_infinity max error).

No. Only stupid political science and liberal arts majors believe this after having performed an internet search to determine the answer. Sorry, you can’t rely on AI to compensate for your irrefutably weak understanding of this topic.

DP. Pot meet kettle.

I’m certain you have no idea of what’s really meant by “The former is a first order statistical moment while the latter is a nonlinear operation applied to a numerically ordered set of data.”

Feeling the need to write that median is a nonlinear operation is so blindingly obvious, so lacking in any actual information value, and yet so obtuse to many people that a real numerate person could not possibly have come up with that nugget of nonsense.

If you ARE a real person and you really did stand up on your hind legs a vomit forth that nonsense, perhaps you have a future writing high school calculus textbooks. That pedantic yet obtuse tone is perfect.

Can’t decide whether or not this is a joke in simultaneously poor taste and limited intellect or just another randomly assimilated stream of consciousness from a stereotypical DCUM dimwit.

Well played, my simplistic friend.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So basically OP is asking people to feel good because the gazillionaires got even richer?

Classic DCUM clickbait.

I would guess that OP didn't understand the difference between median and mean.

No. Quite the opposite. The title of the post states “The Average American is a Millionaire.” Average is synonymous with mathematical mean or expected value, not with median. The former is a first order statistical moment while the latter is a nonlinear operation applied to a numerically ordered set of data.

OP’s assertions are spot on. Most readers seem to have inferred something else. Understandable, if one also doesn’t the difference between mean and median.

Everybody who made it past 5th grade knows that average is not synonymous with mean. It is an ambiguous term for any measure of central tendency.

Mean, median, mode, and midpoint range are all error-minimizing for norms of different dimensions (L_2 square error, L_1 linear error, L_0 indicator error, and L_infinity max error).

No. Only stupid political science and liberal arts majors believe this after having performed an internet search to determine the answer. Sorry, you can’t rely on AI to compensate for your irrefutably weak understanding of this topic.

DP. Pot meet kettle.

I’m certain you have no idea of what’s really meant by “The former is a first order statistical moment while the latter is a nonlinear operation applied to a numerically ordered set of data.”

Feeling the need to write that median is a nonlinear operation is so blindingly obvious, so lacking in any actual information value, and yet so obtuse to many people that a real numerate person could not possibly have come up with that nugget of nonsense.

If you ARE a real person and you really did stand up on your hind legs a vomit forth that nonsense, perhaps you have a future writing high school calculus textbooks. That pedantic yet obtuse tone is perfect.

Anonymous wrote:

Anonymous wrote:So basically OP is asking people to feel good because the gazillionaires got even richer?

Classic DCUM clickbait.

I would guess that OP didn't understand the difference between median and mean.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:According to the Federal Reserve, the median net worth of the typical American family was $192,900 in 2022. This is in contrast to the average net worth, which was $1,063,700. The median net worth increased 37% between 2019 and 2022, while the average net worth increased 23%

So average net worth is still over one million?

Yes, but that is pointless. It is skewed higher by the ultra rich getting richer.

The median tells you why People cannot afford college or to retire. If I only had $192K saved for retirement, I wouldn't be paying $30K/year for college, I couldn't afford it

It depends on age. I was on a college tour recently in North Carolina and the local in state parents many I could not tell the daughter from the Mom. Their were plenty of Moms who looked 44-45 with husbands who were 45-47. $192 is a lot saved for retirement as these peoples were 20-25 years away from retirement. One Mom two daughters in front of me was not to one called one Mom I had no clue who the Mom was. The Mom looked in her 30s and kids were like 17,15. The Dad looked like he was at most 38.

BTW 30K for college even for instate is not doable anymore in most states.

I live in a state where all except the Top Flagship are under $30K (all in for the year). And if you have decent grades/SAT, you can get $2-6K in merit at even the #2 and #3 (I know because my kids were offered that---didnt' take it but were offered it).

Can you share what state?

WA

So all except Univ of Washington are under 30K---UW is about $33

WWU and WSU are under $30K and offer merit to decent students (my 1240/3.5UW got $4K at both---kids with much higher scores get more).

Washington State doesn’t have super competitive public schools. If someone is studying engineering, nursing, or accounting. Something with a well defined career path, that will work out fine. However, Washington state will not cut it for super competitive career pathways. Good luck even getting an interview at an investment banking firm or a big law firm.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:According to the Federal Reserve, the median net worth of the typical American family was $192,900 in 2022. This is in contrast to the average net worth, which was $1,063,700. The median net worth increased 37% between 2019 and 2022, while the average net worth increased 23%

So average net worth is still over one million?

Yes, but that is pointless. It is skewed higher by the ultra rich getting richer.

The median tells you why People cannot afford college or to retire. If I only had $192K saved for retirement, I wouldn't be paying $30K/year for college, I couldn't afford it

It depends on age. I was on a college tour recently in North Carolina and the local in state parents many I could not tell the daughter from the Mom. Their were plenty of Moms who looked 44-45 with husbands who were 45-47. $192 is a lot saved for retirement as these peoples were 20-25 years away from retirement. One Mom two daughters in front of me was not to one called one Mom I had no clue who the Mom was. The Mom looked in her 30s and kids were like 17,15. The Dad looked like he was at most 38.

BTW 30K for college even for instate is not doable anymore in most states.

I live in a state where all except the Top Flagship are under $30K (all in for the year). And if you have decent grades/SAT, you can get $2-6K in merit at even the #2 and #3 (I know because my kids were offered that---didnt' take it but were offered it).

Can you share what state?

WA

So all except Univ of Washington are under 30K---UW is about $33

WWU and WSU are under $30K and offer merit to decent students (my 1240/3.5UW got $4K at both---kids with much higher scores get more).

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So basically OP is asking people to feel good because the gazillionaires got even richer?

Classic DCUM clickbait.

I would guess that OP didn't understand the difference between median and mean.

No. Quite the opposite. The title of the post states “The Average American is a Millionaire.” Average is synonymous with mathematical mean or expected value, not with median. The former is a first order statistical moment while the latter is a nonlinear operation applied to a numerically ordered set of data.

OP’s assertions are spot on. Most readers seem to have inferred something else. Understandable, if one also doesn’t the difference between mean and median.

Everybody who made it past 5th grade knows that average is not synonymous with mean. It is an ambiguous term for any measure of central tendency.

Mean, median, mode, and midpoint range are all error-minimizing for norms of different dimensions (L_2 square error, L_1 linear error, L_0 indicator error, and L_infinity max error).

No. Only stupid political science and liberal arts majors believe this after having performed an internet search to determine the answer. Sorry, you can’t rely on AI to compensate for your irrefutably weak understanding of this topic.

DP. Pot meet kettle.

I’m certain you have no idea of what’s really meant by “The former is a first order statistical moment while the latter is a nonlinear operation applied to a numerically ordered set of data.”

Feeling the need to write that median is a nonlinear operation is so blindingly obvious, so lacking in any actual information value, and yet so obtuse to many people that a real numerate person could not possibly have come up with that nugget of nonsense.

If you ARE a real person and you really did stand up on your hind legs a vomit forth that nonsense, perhaps you have a future writing high school calculus textbooks. That pedantic yet obtuse tone is perfect.

Can’t decide whether or not this is a joke in simultaneously poor taste and limited intellect or just another randomly assimilated stream of consciousness from a stereotypical DCUM dimwit.

Well played, my simplistic friend.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So basically OP is asking people to feel good because the gazillionaires got even richer?

Classic DCUM clickbait.

I would guess that OP didn't understand the difference between median and mean.

No. Quite the opposite. The title of the post states “The Average American is a Millionaire.” Average is synonymous with mathematical mean or expected value, not with median. The former is a first order statistical moment while the latter is a nonlinear operation applied to a numerically ordered set of data.

OP’s assertions are spot on. Most readers seem to have inferred something else. Understandable, if one also doesn’t the difference between mean and median.

Everybody who made it past 5th grade knows that average is not synonymous with mean. It is an ambiguous term for any measure of central tendency.

Mean, median, mode, and midpoint range are all error-minimizing for norms of different dimensions (L_2 square error, L_1 linear error, L_0 indicator error, and L_infinity max error).

No. Only stupid political science and liberal arts majors believe this after having performed an internet search to determine the answer. Sorry, you can’t rely on AI to compensate for your irrefutably weak understanding of this topic.

DP. Pot meet kettle.

I’m certain you have no idea of what’s really meant by “The former is a first order statistical moment while the latter is a nonlinear operation applied to a numerically ordered set of data.”

Feeling the need to write that median is a nonlinear operation is so blindingly obvious, so lacking in any actual information value, and yet so obtuse to many people that a real numerate person could not possibly have come up with that nugget of nonsense.

If you ARE a real person and you really did stand up on your hind legs a vomit forth that nonsense, perhaps you have a future writing high school calculus textbooks. That pedantic yet obtuse tone is perfect.

Anonymous wrote:So the average person is a millionaire? Why is everyone complaining?

The Federal Reserve’s 2022 consumer finance survey unveils a striking picture of American prosperity. The mean net worth of the average household has ascended to $1.06 million, up 23% from $868,000 in 2019.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So basically OP is asking people to feel good because the gazillionaires got even richer?

Classic DCUM clickbait.

I would guess that OP didn't understand the difference between median and mean.

No. Quite the opposite. The title of the post states “The Average American is a Millionaire.” Average is synonymous with mathematical mean or expected value, not with median. The former is a first order statistical moment while the latter is a nonlinear operation applied to a numerically ordered set of data.

OP’s assertions are spot on. Most readers seem to have inferred something else. Understandable, if one also doesn’t the difference between mean and median.

Everybody who made it past 5th grade knows that average is not synonymous with mean. It is an ambiguous term for any measure of central tendency.

Mean, median, mode, and midpoint range are all error-minimizing for norms of different dimensions (L_2 square error, L_1 linear error, L_0 indicator error, and L_infinity max error).

No. Only stupid political science and liberal arts majors believe this after having performed an internet search to determine the answer. Sorry, you can’t rely on AI to compensate for your irrefutably weak understanding of this topic.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So the average person is a millionaire? Why is everyone complaining?

The Federal Reserve’s 2022 consumer finance survey unveils a striking picture of American prosperity. The mean net worth of the average household has ascended to $1.06 million, up 23% from $868,000 in 2019.

Well, yes, because they own stocks and a house.

Most people don't own a home; they live in a mortgaged home.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So basically OP is asking people to feel good because the gazillionaires got even richer?

Classic DCUM clickbait.

I would guess that OP didn't understand the difference between median and mean.

No. Quite the opposite. The title of the post states “The Average American is a Millionaire.” Average is synonymous with mathematical mean or expected value, not with median. The former is a first order statistical moment while the latter is a nonlinear operation applied to a numerically ordered set of data.

OP’s assertions are spot on. Most readers seem to have inferred something else. Understandable, if one also doesn’t the difference between mean and median.

Everybody who made it past 5th grade knows that average is not synonymous with mean. It is an ambiguous term for any measure of central tendency.

Mean, median, mode, and midpoint range are all error-minimizing for norms of different dimensions (L_2 square error, L_1 linear error, L_0 indicator error, and L_infinity max error).

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So basically OP is asking people to feel good because the gazillionaires got even richer?

Classic DCUM clickbait.

I would guess that OP didn't understand the difference between median and mean.

No. Quite the opposite. The title of the post states “The Average American is a Millionaire.” Average is synonymous with mathematical mean or expected value, not with median. The former is a first order statistical moment while the latter is a nonlinear operation applied to a numerically ordered set of data.

OP’s assertions are spot on. Most readers seem to have inferred something else. Understandable, if one also doesn’t the difference between mean and median.

The OP would have been accurate if it said: “The Average Net Worth of Americans is over million.” It didn’t. It claimed the “average American is a millionaire.” If you average people, it is the same as the median.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So basically OP is asking people to feel good because the gazillionaires got even richer?

Classic DCUM clickbait.

I would guess that OP didn't understand the difference between median and mean.

No. Quite the opposite. The title of the post states “The Average American is a Millionaire.” Average is synonymous with mathematical mean or expected value, not with median. The former is a first order statistical moment while the latter is a nonlinear operation applied to a numerically ordered set of data.

OP’s assertions are spot on. Most readers seem to have inferred something else. Understandable, if one also doesn’t the difference between mean and median.

The OP would have been accurate if it said: “The Average Net Worth of Americans is over million.” It didn’t. It claimed the “average American is a millionaire.” If you average people, it is the same as the median.