An advertising company was awarded the contract to design advertising for Rolls Royce auto-mobiles. An executive in the firm decided to pitch the product not only to the affluent in the United States but also to those who think they are in the top 1% of income earners in the country. A survey was undertaken, which among other questions asked respondents 25 and over where their annual income ranked. The following responses were given.
1 = Top 1%
2 = Top 5% but not top 1%
3 = Top 10% but not top 5%
4 = Top 25% but not top 10%
5 = Bottom 75%
Estimate with 90% confidence the number of Americans 25 and over who believe they are in the top 1% of income earners. The number of
Americans over 25 is 203,882,000.

  • CreatedFebruary 03, 2015
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