DISQUS

The Junction: #1 of 437 Store Tips: Pricing Strategy

  • facebook-759855656 · 4 weeks ago
    okay Danny - how could the median be $35 if you have ones going for $150? isn't median the number in the exact middle? Mean is the average calculated by taking the sum, divided by the number of entries - no?
  • PJ_Danny · 3 weeks ago
    A chance to show off!

    Mean = "total sales" / "# of sales"

    Means can be susceptible to outliers, like the $180 templates ;-)

    Median = sort the sales in ascending order, pick the 'middle' number.

    Two slightly different ways of looking at data.

    HTH
    Danny