Posted by Ashli on .
From a statistical point of view why a company might want to report its mean salary in one situation and its median salary in another?
Thank you for using the Jiskha Homework Help Forum. The following site explains the difference between the 2 terms:
Summary: Mean - the mathematical average, calculated by adding up all the pay rates in the data set and then dividing by the number of pay rates in the data set.
Median - the value of the pay rate that falls in the middle of all the rates in an ordered data set (that is to say, a data set which is ordered from lowest to highest rate).