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by LeifCarrotson
3688 days ago
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Those numbers are averages. They have a minimum of zero (credit cards don't report positive balances), but their maximum can be large. The right, most informative conclusion about one $10k balance and 9 $0 balances is that "almost everyone in this group carries no balances, but one carries unmanageable debt", not "the average credit card debt is a manageable but significant $1000". Statistics guarantees they are guaranteed to be high, not low. Medians and top/bottom percentiles would be more informative. |
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