"The median is a number that separates the higher half of a sample, a population, or a probability distribution from the lower half. More precisely 1/2 of the population will have values less than or equal to the median and 1/2 of the population will have values equal to or greater than the median" "Oxfam defines poverty as: "Poverty is measured here as below 60 per cent of contemporary median net disposable income in 2000/01."" Therefore, providing your distribution curve is quite tight around the median, (i.e. at no individual value is below 60% of the median value) you succeed in achieving Oxfam's goal. If you have widely spread difference between your values (i.e. really poor people relative to median income) then you fail. Oxfam are really measuring how wide the gap is between the rich and poor. Nordic countries will be much closer to achieving the metric than somewhere like Britain with a huge and increasing gap between the richest and the poorest.
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timeasmymeasure
Maths clarification
Date: 2006-01-10 12:06 pm (UTC)"Oxfam defines poverty as: "Poverty is measured here as below 60 per cent of contemporary median net disposable income in 2000/01.""
Therefore, providing your distribution curve is quite tight around the median, (i.e. at no individual value is below 60% of the median value) you succeed in achieving Oxfam's goal. If you have widely spread difference between your values (i.e. really poor people relative to median income) then you fail.
Oxfam are really measuring how wide the gap is between the rich and poor. Nordic countries will be much closer to achieving the metric than somewhere like Britain with a huge and increasing gap between the richest and the poorest.