Saving retirement. Retirement seems a long way off, and we need money now. So sa

Question

Saving retirement. Retirement seems a long way off, and we need money now. So saving for retirement is hard. Once every three years, the board of governors of the federal reserve system collects data on household assets and liabilities through the survey consumer finances. The most recent such survey wS released to the public in April 2013. The survey presents data on retirement assets, which include defined contribution and individual retirement terms account balances. For married households the mean value is just 10,000$. For single household the mean is $ 33,585 and the median is 0$. What explains the differences between the two measure centers both for married and single households? What does the median of $0 say about the percentage of single households with retirement assets?

Explanation / Answer

The distributions are probably right skewed, because most of those with retirement savings have not saved much.but few have saved hundreds of thousands or more

Related Questions

Navigate

• Browse (All)
• Browse S
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.