I’m working on a business discussion question and need support to help me learn.
Every day, you are hearing about average price, average score, average gas consumption, and so on. Sometimes, you hear about median income or similar terms. Are they different? Is average income the same as median income? Try something new in this forum: quick and fun research.
Perform online research by searching for average and median household income by state (for example, you can use this resource to learn about household income by state), and locate your state. Identify the average and median household income. For Florida, the average household income is greater than the median income. Does that mean that the median is always lower than average? If not, please elaborate and provide an example that indicates opposite results.
Reference
PK. (2020). Average income by state plus median, top 1%, and all income percentiles in 2020. DQYDJ. https://dqydj.com/average-income-by-state-median-top-percentiles/
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