In 2003 The World Wealth Report first started publishing market shares of global millionaires (The Wall Street

Question:

In 2003 The World Wealth Report first started publishing market shares of global millionaires (The Wall Street Journal, June 25, 2008). At this time, the distribution of the world’s people worth $1 million or more was

Region Percentage of Millionaires

Europe ...........35.7%

North America ........ 31.4%

Asia Pacific ..........22.9%

Latin America .......... 4.3%

Middle East ...........4.3%

Africa ..............1.4%

A recent sample of 500 global millionaires produces the following results:

Region Number of Millionaires

Europe........ 153

North America ........163

Asia Pacific........139

Latin America ........20

Middle East .......20

Africa ..........5

a. Test whether the distribution of millionaires today is different from the distribution in 2003 at α = 0.05.

b. Would the conclusion change if we tested it at α = 0.10?

Distribution
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