​Today we will:

• Use graphing calculators to ​calculate "mean" and "median"

• Determine which is most appropriate to describe the data.

• Interpret and create box-and-whiskers plots

On your classwork, you will take notes corresponding to the slides as we go through the lesson.

​Wealth Distribution

• ​A country’s wealth distribution describes how much wealth is owned by different segments of the population.

• The typical impression of wealth distribution in the United States is different than the actual distribution.

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In the United States, the richest 1% controls 40% of all the wealth. The bottom 80% control only 7% of the wealth.

Imagine three countries:

A, B, and C

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Each country has ten people, and everyone’s wealth is listed from least to greatest (in thousands of dollars).

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If you were randomly born in one country, which would you choose and why?​

​Some things to consider...

​What is the gap in $$ between the richest and poorest person in each country?

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Which Country has the most evenly distributed $$$?

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Which country is the most likely to give me a generally comfortable quality of life?

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What are my chances of becoming incredibly rich in each country?

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Mean & Median

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• ​The "mean" is the average value in a numerical data set.

• The "median" is the value that splits a numerical data set in half.

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​Calculate the mean and median for country A.

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Calculating by hand

​STEP 1 - Enter the data set

​STEP 2 - Calculating the Mean & 5 Number Summary

​When you arrive at the last screen, raise your calculator in the air!

​​STEP 2 - Calculating the Mean & 5 Number Summary

​When you arrive at the last screen, raise your calculator in the air!

​Reading the 5 Number Summary

For each country, does the mean or the median better represent the 'typical' person?​

​A "distribution" is...

​​the way in which something is shared out among a group or spread over an area

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A "skewed" distribution is...

biased or distorted in a way that is regarded as inaccurate, unfair, or misleading.

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​Video - Wealth Inequality

Key Takeaways

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​-​Data can tell a different story depending on how it is represented and summarized

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​-Perfect equality means that all groups have the same amount of wealth.

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​-Perfect inequality means that one group (or really, one person) controls all of the wealth.

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-Income refers to how much someone earns. Wealth refers to how much – assets, income, etc. – someone has.

Homework

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​Kami

11/1 Homework

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Edpuzzles

​-Interpreting Boxplots Practice due 11/3 @ 9pm

-Interpreting the 5 Number Summary due 11/3 @9pm

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​Lesson 1 & 2 Key Takeaways

• ​center, spread, symmetry

• ​The percentages of all five groups must add up to 100%.

• • Income refers to how much someone earns. Wealth refers to how much – assets, income, etc. – someone has.