Numeracy In a recent study on financial decision-making, peo ples answers to three quick mathematics questions were
Question:
Numeracy In a recent study on financial decision-making, peo ple’s answers to three quick mathematics questions were strong predictors of their wealth: households where both spouses answered all three questions correctly were more than eight times as wealthy as households where neither spouse answered any question correctly. So if you have ever struggled with math, be glad that you did. You can try answering the three questions for yourself:
(a) If the chance of getting a disease is 10 percent, how many people out of 1000 would be expected to get the disease?
(b) If five people all have the winning numbers in the lottery, and the prize is 2 million dollars, how much will each of them get?
(c) Let us say you have $200 in a savings account. The account earns 10 per cent interest per year. How much would you have in the account at the end of two years?