According to, net worth is defined as total assets (value of house, cars, money, etc.) minus total liabilities (mortgage balance, credit card debt, etc.). According to a recent study by TNS Financial Services, 7% of American households had a net worth in excess of $1 million (excluding their primary residence). A random sample of 1000 American households results in 82 having a net worth in excess of $1 million. Explain why the results of this survey do not necessarily imply that the proportion of households with a net worth in excess of $1 million has increased.

  • CreatedApril 27, 2015
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