But if a forecaster tells us that he “expects” a growth rate of 3%, does that mean that he thinks that it is as likely to be above 3% as it is to be below 3% – the “median,” as he sees it, of the distribution of possible growth rates? Or could it mean that the he thinks the most likely growth rate will be close to 3% (the “modal” value), even though he may believe that it is much more likely to be less than that value than to be greater?