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Aug 5, 2015 8:57 AM
(348 views)

I am looking for the highest average income. So for the branch on the right most side, it is $1650.

But can I say that since STD DEV is higher than MEAN, I should ignore this branch?

How would you read this graph? The target is income.

1 REPLY

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Aug 5, 2015 1:00 PM
(267 views)

The fact that the standard deviation is greater than the mean simply means that, given that this is income data with a minimum boundary of zero, your income data is very skewed to the right. It looks like all of our Std. Dev.'s are greater than the means, again suggesting skewed data. Technically, this should not be problematic for your analysis.

Hope this helps.

Steve