**Both Edith’s and Archie’s earnings for that 8 day period add up to $1600
each. They made the same amount. And they also have the same Mean amount:
$1600÷8 days = $200 Mean (Average) per day, which is the same amount for
both of them.
But, Edith’s
earnings are much closer to the Mean than Archie’s earnings. Remember,
the Mean is just another way of saying the ‘middle of things.’ Edith’s
earnings show less jumping around the average value of $200 than Archie’s.
Archie’s earnings are much less predictable. You have less confidence in them.
One day they are $400 and the next day they are $0. In other words, Archie’s
earnings have a much greater **