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>and asked them what their income is, the most likely answer is the mode value, or in 2014 about $22,000. That's reality. That's why that is important. FFS no. That’s not what the mode means. Mode does not imply that’s the majority probability, it’s just the single highest probability out of the possible outcomes. Statistically speaking, if you asked random people what their income was, the majority would not have an income of $22k. Let that sink in. Your whole mental model of this is deeply flawed. “Mode” != “majority”. Consider this distribution: 1,2,2,3,4,5,6,7,8,9,10,11,12,13,14,15,16 What is the mode? Do you see why the mode is meaningless shit when discussing what the distribution looks like? |