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6. Based on what you learned in reading the Background and the analogy between distributions of energy and money, answer part (a) of this question

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6. Based on what you learned in reading the Background and the analogy between distributions of energy and money, answer part (a) of this question for (i) a large value of (e.g. 10) with N =j (B$1 available per capita) and for(i) j = 108 but N = 1000) (a B$1000 per capita total economy). (a) What personal amount of money is most common in the most probable distribution? Is that shocking? i. ii. HINT: For Q6, use the trend in Q5 to answer part (a) for N = ), and extend that to N = 1000 i (chosen to make it seem more realistic). You could use the second case to answer part (b). (b) If earning and spending money were simply random processes as in our game (most people would see that as a very poor approximation to reality), how lucky" would a person have to be, (i) to start out and (ii) then to remain at least 10x as wealthy as the national average for one's whole life? Try to support your answer with calculations. 6. Based on what you learned in reading the Background and the analogy between distributions of energy and money, answer part (a) of this question for (i) a large value of (e.g. 10) with N =j (B$1 available per capita) and for(i) j = 108 but N = 1000) (a B$1000 per capita total economy). (a) What personal amount of money is most common in the most probable distribution? Is that shocking? i. ii. HINT: For Q6, use the trend in Q5 to answer part (a) for N = ), and extend that to N = 1000 i (chosen to make it seem more realistic). You could use the second case to answer part (b). (b) If earning and spending money were simply random processes as in our game (most people would see that as a very poor approximation to reality), how lucky" would a person have to be, (i) to start out and (ii) then to remain at least 10x as wealthy as the national average for one's whole life? Try to support your answer with calculations

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