Question: According to the Statistical Abstract of the United States the

According to the Statistical Abstract of the United States, the mean net worth of all households in the United States in 2007 was $556,300, while the median net worth was $120,300.
(a) Which measure do you believe better describes the typical U.S. household's net worth? Support your opinion.
(b) What shape would you expect the distribution of net worth to have? Why?
(c) What do you think causes the disparity in the two measures of central tendency?

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  • CreatedApril 27, 2015
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