As of this writing, Barack Obama is President of the United States and he has a net worth of $3,670,505. The 17 members of the Executive Branch have a mean net worth of $4,939,455 with a standard deviation of $7,775,948 (based on data from opensecrets.org).
a. What is the difference between President Obama’s net worth and the mean net worth of all members of the Executive Branch?
b. How many standard deviations is that (the difference found in part (a))?
c. Convert President Obama’s net worth toaz score.
d. If we consider “usual” amounts of net worth to be those that convert to z scores between —2 and 2, is President Obama’s net worth usual or unusual?