5min chapter

EconTalk cover image

Russ Roberts on Education

EconTalk

CHAPTER

How to Understand the Average

The average is a really amazing tool tat somebody thought of to think about how to summarize a very diverse set of information. Most people know what an average is, but you don't understand the average. Same thing would be true of risk, uncertainty, data. To understand random ast to spend your lifetime thinking about in getting a deeper and deeper and richer understanding. It's if you want to understand datay, to think about the idea of an outlie, or something that's wildly different from the average.

00:00

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode