Question

A reporter says that "the median credit card debt of American households is zero" We know that many households have large amounts of credit card debt. How can the median debt be nonetheless zero?

Answer 1

Someone please help

Answer 2

For every household that has large credit debt, then there is a household saving, thus creating a balnce between debt and savings, and since the median is just the middle, the they must balance out to where the middle is zero. Does that make sense?

Answer 3

Just for the record, I could be way wrong, I suggest a second opinion.

Answer 4

Thank you! And the way you out made sound just about right with your opinion & again thanks !