Median or average statistics are nearly worthless without some characterization of the data distribution, at a bare minimum the standard deviation.
I’m not sure what is more disturbing, the fact that the media constantly reports average statistics with no distribution information whatsoever, or that boards like this are full of scores of posts from highly educated professionals attempting to interpret these basically meaningless numbers.
In countries with large wealth and income disparities, the “Median Household” is a rare creature indeed.
