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Median income is the amount which divides the income distribution into two equal groups, half having income above that amount, and half having income below that amount. Mean income (average) is the amount obtained by dividing the total aggregate income of a group by the number of units in that group.
We are trying to find the median of a large set of numbers to calculate the median income in 2010. For an example we have 8,379k people with $2500 average income, 9,783k with $7500 average income and so on. How can I calculate the median average income of such a large amount of entries? View 8 Replies View Related