The Census Bureau reported that the median household net worth in the United States was $68,800 in

Question:

The Census Bureau reported that the median household net worth in the United States was $68,800 in 2011. In contrast, the mean household net worth was $339,000. How is it possible for the mean to be so much larger than the median?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Statistics For Business Decision Making And Analysis

ISBN: 9780134497167

3rd Edition

Authors: Robert A. Stine, Dean Foster

See More Books

Question Posted: Nov 29, 2018 04:33 AM

See More Questions

Every 10 years, the United States Census Bureau attempts to collect information from all Americans. Assuming that they are successful, would it be a statistic or a parameter if the Census Bureau...
In 2013, the U.S. Census Bureau reported that 65% of American families owned their homesthe lowest rate in 18 years. Census data reveal that the ownership rate in one small city is much lower. The...
The Federal Reserve Survey of Consumer Finances reported that median household net worth was $91,700 and mean household net worth was $421,500 in 2001. Explain how it is possible for the median net...
The Hartley Hotel Corporation is planning a major expansion. Hartley is financed 100 percent with equity and intends to maintain this capital structure after the expansion. Hartleys beta is 0.9. The...
Queen Sales, Inc. has just completed its first year of operations. The company has not had any sales to date. Queen has incurred the following costs associated with its production as of December 31,...
A vertical spring (spring constant = 112 N/m) is mounted on the floor. A 0.400-kg block is placed on top of the spring and pushed down to start it oscillating in simple harmonic motion. The block is...
Consider the mean square error criterion for generalized ridge regression. Show that the mean square error is minimized by choosing $k_{j}=\sigma^{2} / \alpha_{j}^{2}, j=1$, $2, \ldots, p$.
In an examination of Daniel Corporation Ltd. as of December 31, 2017, you have learned that the following situations exist. No entries have been made in the accounting records for these items. Daniel...
Use the triangle diagrams to help complete the table for the exact trig values. 0 30 45 60 90 0 1 0 45 2 3 2 sin Cos 1 45 60 1 1 tan 0 Section B: Give the exact values. 1) sin 30+ cos 60 4) 2sin 60...
F&H Corp. continues to invest heavily in a declining industry. Here is an excerpt from a recent speech by F&Hs CFO: We at F&H have of course noted the complaints of a few spineless investors and...
The Energy Policy Act of 2005 mandates that gasoline sold in the United States must average at least 2.78% ethanol in 2006. Does this mean that every gallon of gas sold has to include ethanol?
The September 2014 issue of the Federal Reserve Bulletin results from the Survey of Consumer Finances, a national economic survey conducted by the Federal Reserve every three years. The survey found...
What is meant by satisficing, and why is the term often used in conjunction with GP?
I need a 100 word discussion reply to: Accounting Information Systems can be viewed through biblical principles by emphasizing honesty, integrity, and accountability. The Bible encourages...
Are these numbers correct and what are the averages that need to be filled out?
Guaranteed municipal securities usually carry a slightly interest rate than uninsured bonds.
Rewrite this AI and keep the quotes the same: "Salaries are low in comparison to other business majors... student see the major and the work as more challenging with not enough reward," notes...
Steve wants to invest 2,000 today and leave that for 12 years at 6 % compounded annually plus he wants to invest 150 per month at the beginning for 6 % compounded annually for 12 years. How much will...
Describe how you could use part (b) of Table 9.2 to derive the result in part (d). 1=ML?
The Pletcher Transportation Company uses a responsibility reporting system to measure the performance of its three investment centers: Planes, Taxis, and Limos. Segment performance is measured using...
A service station near an interstate highway sells three grades of gasoline: regular, plus, and premium. During the last week, the manager counted the number of cars that purchased these types of...
A mens clothing retailer stocks a variety of mens shirts. The data for this question record the type of sales during the last three months, indicating shirt style and size. (You should recognize...
The contingency table in Exercise 39 shows counts of the types of gasoline bought during the week and during weekends. (a) Find the value of chi-squared and Cramers V for this table. (b) Interpret...
What are the advantages and disadvantages of utilizing PostgreSQL's advanced indexing techniques such as GiST and GIN?
discuss the implications and trade-offs of utilizing PostgreSQL's advanced security features such as row-level security (RLS) and column-level encryption in compliance-sensitive applications...
How does PostgreSQL's support for advanced full-text search capabilities through extensions like pg_trgm and tsearch improve search functionality and performance in applications requiring...

The Census Bureau reported that the median household net worth in the United States was $68,800 in

Question:

Step by Step Answer:

The distribution of income is ...View the full answer

Statistics For Business Decision Making And Analysis

Students also viewed these Mathematics questions