Mean Income
Mean income refers to the average income earned by individuals in a specific group, such as a city, state, or country. It is calculated by adding all the incomes together and then dividing that total by the number of individuals in the group. This measure helps to understand the overall economic well-being of a population.
Mean income can be influenced by various factors, including education level, job availability, and economic conditions. It is often used by policymakers and researchers to assess income distribution and to identify areas that may need economic support or development.