Average Salary

Fairly easy to most of you. The average is the sum of salaries divided by their count. For example, the average salary of
1500$, 2500$ and 5000$ is 1500 ! 2500 ! 5000 " #000$ divided by % e&uals to %000$. The average salary is a good
indicator in general but it does not tell the 'hole story. For example, suppose 'e 'ant find out the average salary of four
ban(ers 'ith the follo'ing salaries) 1500$, 1500$, 2500$ and 11500$. The average salary 'ill be $*000 but does it give you
a good idea of a ban(er+s salary, -fcourse not. .ll of the ban(ers earn less than $*000 except for one earning too high
above the rest causing the average to be high. /n this case the average is a poor indicator. 0eep in mind) the more data you
have the less li(ely you are to get a misleading average. .s a general rule it+s a good thing 'hen your salary is above the
average.