Statistics for Dummies
With all the talking we have been doing in class about statistics, it is nice to know that there are other ways to lie about the GDP. As Dr. Greg Mankiw points out in his article posted on his blog, there is one very interesting publication that we see each year in which actual statistics make very little difference. The article is talking to Parade magazine and their annual report on working individuals and their salaries. Mankiw makes an interesting point in how the distribution of income is not well represented between jobs. Another reason that this article doesn't make statistical sense is the fact that areas around the country are compared without adjusting for things like the cost of living. Obviously an actor in Hollywood in Los Angeles is going to make more money than a plumber in South Dakota. At the same token, a plumber in Los Angeles would make much more money than that same plumber in South Dakota. This article is a poor representation of America. You can find the actual article.