OldShooter
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Anything like this involved with income, assets, etc. will yield distorted numbers when averages are used. The small number of high income people will raise the average and give an inaccurate, even meaningless, picture.
Think, for example, of the average income of all inhabitants of a small rural town plus Bill Gates. The number would be something that none of the residents would recognize. Income and asset distribution in the US is something like that.
What is significant is the median spending number: Half the people above, half below. I would bet that it is significantly below the average number.
Think, for example, of the average income of all inhabitants of a small rural town plus Bill Gates. The number would be something that none of the residents would recognize. Income and asset distribution in the US is something like that.
What is significant is the median spending number: Half the people above, half below. I would bet that it is significantly below the average number.