Comments on: The Millionaire in the Making Series – Stats!

By: Kayakc

Kayakc — Mon, 15 Feb 2010 21:54:20 +0000

One observation is that the MITM profiles do not list a category for ‘College Savings’.

By: PT

PT — Thu, 30 Jul 2009 04:28:35 +0000

I agree, EnoughWealth. I didn’t think to use the Median. Thanks for stopping by and digging into the stats with me.

By: EnoughWealth

EnoughWealth — Thu, 30 Jul 2009 01:57:25 +0000

For calculating the “Average” Business Value as $536,250.00 , it looks like you just averaged the four profiles that reported a business value. It would be more usual to calculate the average business for the entire cohort of 60 profiles ie. $35,750. This of course assumes that all 56 MITM that didn’t report a business value have no business…

In any case, with a sample size of only four, the average business value is severely skewed by the one high value ($1.7m). The other three reported business values only total $445,000! With such a small sample size the median value of the four would probably be a better indicator (around $180,000?)

By: money funk

money funk — Wed, 27 Aug 2008 21:01:24 +0000

This is a really neat analyzation of the MITM. I’m definitely gonna let people know about it on my blog, as I think the results are very interesting (also, makes me realize I am far from par).

By: hank

hank — Mon, 17 Mar 2008 22:08:05 +0000

Wow. That’s actually a really deep dive into it. Surprised it didn’t get more traffic. Love the input. Looks like I’m off the map with 2 kids (and the wife wants another) – I may not make it to a million as I’d planned!

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By: Jonathan

Jonathan — Sat, 05 Jan 2008 11:42:38 +0000

Interesting compilation you got there. Initially, I thought it might reveal some sort of bias as to who they chose to profile. But overall, it seems like they have a good mix going on.

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