According to the Bureau of Labor and Statistics in 2019 "Average expenditures per consumer unit for 2019 were $61,344 where "consumer units include families, single persons living alone or sharing a household with others but who are financially independent, or two or more persons living together who share expenses.

 

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a) "The average American lives on SD per day" is a common type of statistic used (not just about Americans either). Using the information above, determine a reasonable amount that could represent D in this statistic. Be sure to explain your reasoning. b) Using your average dollar amount per day for an American, for how many days could an American live on one trillion dollars? How many years is that? Decades? Centuries? Millennium? c) The average life expectancy of an American in 2019 was about 77 years (data.worldbank.org). With this in mind, about how many Americans could live their whole lives on one trillion dollars? d) Try to put this in perspective: come up with a good comparison, such as another grouping that has a similar population size to your value in part c. Explain how you came up with your values. Explain why your comparison makes sense. a) "The average American lives on SD per day" is a common type of statistic used (not just about Americans either). Using the information above, determine a reasonable amount that could represent D in this statistic. Be sure to explain your reasoning. b) Using your average dollar amount per day for an American, for how many days could an American live on one trillion dollars? How many years is that? Decades? Centuries? Millennium? c) The average life expectancy of an American in 2019 was about 77 years (data.worldbank.org). With this in mind, about how many Americans could live their whole lives on one trillion dollars? d) Try to put this in perspective: come up with a good comparison, such as another grouping that has a similar population size to your value in part c. Explain how you came up with your values. Explain why your comparison makes sense.

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a Given that the average expenditures per consumer unit is 61344 a reasonable amount that could repr... View the full answer