Question: According to Wikipedia com net worth is de ned as total assets

According to Wikipedia.com, 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.

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  • CreatedApril 27, 2015
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