Reference no: EM131787159
U.S. Distribution of Wealth (Example 8) Michael Norton (of Harvard) and Dan Ariely (of Duke) did a survey reported in Harvard Magazine (Nov-Dec 2011).
They asked respondents to estimate how much of the wealth is held by each quintile (fifth) of the people in the United States. The top quintile is the wealthiest 20% of the people in the United States, and the bottom quintile is the poorest 20%.
They also asked respondents what the distribution should be ideally. The bar chart shows these responses, as well as the true values.
For instance, the true value for the bottom fifth is 0.1% and the true value for the fourth fifth is 0.2%, so they are hard to see on the chart.
This means that the poorest fifth of the people have only 0.1% of the country's wealth.
a. In truth, the top fifth (in terms of wealth) actually held about what percentage of the wealth?
b. Which figures (Ideal, Estimate, or Truth) show the least variation?
c. Which figures (Ideal, Estimate, or Truth) show the most variation?
d. Do people making estimates tend to underestimate or to overestimate the proportion of wealth held by the top.
![2008_U.S. Distribution.png](https://secure.expertsmind.com/CMSImages/2008_U.S. Distribution.png)
Determine debbies and elizabeths realized gain of loss
: Determine Debbies and Elizabeths realized gain of loss, recognized gain or loss and the basis in their new property
|
Discuss the balance sheet and comment briefly on the results
: Using Vertical Analysis, present briefly any two items from the Balance Sheet and comment briefly on the results
|
What was her recognized gain or loss
: On April 18, 2010, Jane Juniper purchased 30 shares of Bryan Corp. stock for $1210, What was her recognized gain or loss
|
Introduction to business strategy competency
: Introduction to Business Strategy Competency-Assess strategic development in practical management concepts as they relate to strategic processes
|
Which figures show the most varibration
: In truth, the top fifth (in terms of wealth) actually held about what percentage of the wealth? Which figures show the least variation?
|
What amount of net capital gain and net ordinary income
: The ABC stock was purchased for $1,800 and sold for $3,200. In 2010, Jack should report what amount of net capital gain and net ordinary income
|
Prepare an as-is data flow diagram
: Prepare an As-Is Data Flow Diagram and an As-Is System Flowchart
|
Verify the accuracy of this charitable deduction
: Do you have a duty to verify the accuracy of this charitable deduction?
|
Three children as dependents on individual tax return
: When you prepare Henry’s tax return, may he claim the three children as dependents on his individual tax return? Explain?
|