The Census Bureau reported that the median household net worth in the United States was $68,800 in
Question:
The Census Bureau reported that the median household net worth in the United States was $68,800 in 2011. In contrast, the mean household net worth was $339,000. How is it possible for the mean to be so much larger than the median?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 84% (13 reviews)
The distribution of income is ...View the full answer
Answered By
Carly Cimino
As a tutor, my focus is to help communicate and break down difficult concepts in a way that allows students greater accessibility and comprehension to their course material. I love helping others develop a sense of personal confidence and curiosity, and I'm looking forward to the chance to interact and work with you professionally and better your academic grades.
4.30+
12+ Reviews
21+ Question Solved
Related Book For
Statistics For Business Decision Making And Analysis
ISBN: 9780134497167
3rd Edition
Authors: Robert A. Stine, Dean Foster
Question Posted:
Students also viewed these Mathematics questions
-
Every 10 years, the United States Census Bureau attempts to collect information from all Americans. Assuming that they are successful, would it be a statistic or a parameter if the Census Bureau...
-
In 2013, the U.S. Census Bureau reported that 65% of American families owned their homesthe lowest rate in 18 years. Census data reveal that the ownership rate in one small city is much lower. The...
-
The Federal Reserve Survey of Consumer Finances reported that median household net worth was $91,700 and mean household net worth was $421,500 in 2001. Explain how it is possible for the median net...
-
The Hartley Hotel Corporation is planning a major expansion. Hartley is financed 100 percent with equity and intends to maintain this capital structure after the expansion. Hartleys beta is 0.9. The...
-
Queen Sales, Inc. has just completed its first year of operations. The company has not had any sales to date. Queen has incurred the following costs associated with its production as of December 31,...
-
A study measures the sorption (either absorption or adsorption) rate of three different types of organic chemical solvents. These solvents are used to clean industrial fabricated-metal parts and are...
-
Use the PewWorkPlay dataset to select cases so that you are looking only at white males 25 years or younger. Then find out what proportion of them say they have used a dating app on their phone. Then...
-
On May 1 of this year, Ellsworth and Company established a Petty Cash Fund. The following petty cash transactions took place during the month: May 1 Cashed check no. 956 for $ 150 to establish a...
-
I need the answer as soon as possible Please 100% correct within few minutes or else skip 33 The following particulars are available for the previous year's production of fans for M/s. Eastern...
-
To estimate the mean age for a population of 4000 employees, a simple random sample of 40 employees is selected. a. Would you use the finite population correction factor in calculating the standard...
-
The Energy Policy Act of 2005 mandates that gasoline sold in the United States must average at least 2.78% ethanol in 2006. Does this mean that every gallon of gas sold has to include ethanol?
-
The September 2014 issue of the Federal Reserve Bulletin results from the Survey of Consumer Finances, a national economic survey conducted by the Federal Reserve every three years. The survey found...
-
A four-cylinder spark-ignition engine has a compression ratio of 10.5, and each cylinder has a maximum volume of 0.4 L. At the beginning of the compression process, the air is at 98 kPa and 378C, and...
-
How do transnational organizations and agreements influence national sovereignty and political autonomy ?
-
How do individuals reconcile the tension between rational deliberation and emotional impulses when making consequential decisions amidst volatile environments, and to what extent does the phenomenon...
-
Watch the video clip below; https://www.youtube.com/watch?v=sE6Ox3ikCMU 1. Do you think that 'Rick and Morty' was a good choice? Justify your answer. 2. Do you think that this campaign will work for...
-
by the hypothesis that we want to do descriptive method, and quantative research in Tim hortons company, the question is A convincing closing statement, including that you'll develop your research...
-
Bottom of Form Why do you think ethics is important in healthcare management? What do you see as the biggest risks and temptations? How is your INTEGRITY a core principle in your professional ethical...
-
Which of the following entities is likely to have the greatest flexibility in choosing a year-end other than a calendar year-end? a. Sole proprietor b. General partnership c. Corporation d. S...
-
on 8 For the following set of lengths 130, 170, 160, 160, 150, 190 Third quartile is: et red d out of Select one: O a. 160 a question O b. 145 O c. 175 O d. 180
-
A service station near an interstate highway sells three grades of gasoline: regular, plus, and premium. During the last week, the manager counted the number of cars that purchased these types of...
-
A mens clothing retailer stocks a variety of mens shirts. The data for this question record the type of sales during the last three months, indicating shirt style and size. (You should recognize...
-
The contingency table in Exercise 39 shows counts of the types of gasoline bought during the week and during weekends. (a) Find the value of chi-squared and Cramers V for this table. (b) Interpret...
-
Production costs that are not attached to units that are sold are reported as: Cost of goods sold Selling expenses Administrative costs Inventory
-
Please show workings :) Oxford Company has limited funds available for investment and must ration the funds among four competing projects. Selected information on the four projects follows: Life of...
-
ASDA Company reported the following activity in the Assembly Department for the month of May : Units Percent Completed Materials Conversion Work in process, May 1 360 50 % 10 % Units started into...
Study smarter with the SolutionInn App