Bus fares continue to remain affordable for the general public even with the 1.8 per cent increase as this is considerably lower than the annual increase in average monthly income per household of 5.7 per cent in 2006
SMRT chief operating officer Yeo Meng Hin
Business Times, Sept 12, 2007
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So what is the median income increase? Average of 100 fives and 1 one googol is quite large. :D
Currently Spared,
Agree with your point. I dislike these kind of conclusions drawn to explain a common phenomenon. Large numbers coupled with skewed distributions distort the values of average (if taken as mean).
The fact that this comes from a chief operating officer (without explaining how the average was derived) either means he is not familiar in the world of statistics, or he has no intention to provide complete context that the statement made represents the public (excluding the rich).
“affordable” but every company that increases the prices of their products and services use the same reason to justify their profit because they have to increase the wages of their employee. At the end of the day ,this is what it means by inflation and the one that suffers most are the unfortunate one with low income or low IQ .
He is talking abt an income increase in 2006! We are already in 2008 almost to 2009. What abt 2007? Were’nt we in deep shit then? The fare increase should take into account what’s happening from now, when the global economy is receding and ordinary citizens are broke. The transport companies are not struggling but making huge profits! WTF is their moral conscience??
One morning at 8.00 a.m., I was afraid of being late for my blood test appointment at Changi Hospital. So I took a taxis from Simei MRT station to the hospital which is less than 10 minutes walking.
I got a shock when the taxis driver charged me $5.00 ! He said, “Peak Hour”
which really made me a sucker ! If I was actually in the City, it would make sense but that is ulu district with no heavy traffic ! Can the PAP Gods find a better way to make taxis drivers happy and us…the poor miserable sick has some money left to pay the doctor ?
ObamaOsamaPAPaya