on June 22, 2016, The Gulf News newspaper published an article \"Revealed: 10 Ri
ID: 3406977 • Letter: O
Question
on June 22, 2016, The Gulf News newspaper published an article "Revealed: 10 Richest Countries in the World' (ttp:lgulfnews.com/business/money/revealed 0-richest countrie n-the- 1850234) containing the following data. Table 1 Countries ranked by total individual wealth, 2015 Rank Country Wealth (S Billion) 1 United $Billion States S48.700 Mean I 6 q o 3 China S17.300 Median 7kZ 4 Japan S15.200 Std Dev $13,407 Germany $9.400 s United Kingdom S9. Complete the 'mean' and France $7.600 'median' cells above. India S5.200 Canada. 10 Australia S4,500 Table 2: Countries nanked by per capita h, 2015 Rank Country Wealth per capita (S) Monaco SIA S2S 0000 2 Liechtenstein SC20,000 1285.000 3 Switzerland Std Dev $433,137.19 Australia 204.000 Norway 3200 000 Complete the 'mean' and 6 Luxembourg S181.000 'median' cells above. Singapore 3153000 3130.000 8 United States 9 Unted Kingdom Sl47.000 10 Sweden SI 6,000 In the data o Table 1, what does the "total individual wealth" of a country mean? Sun of un 2 6go lan In the data of Table 2, what does the "per capita wealth" of a country mean?Explanation / Answer
Step 1 : The population of Switzerland is (year 2015): 8298663
Step 2: Per Capita Wealth is : 285000
Step 3: Total individual wealth= per capita wealth * population
=8298663*285000
= 2365118955000
= 2365.1189 * 109
= 2400 billion(rounded off)
Step 4: No , it is not in the top 10 .
Step 5: Lowest entry in table: 4500 billion
So, Switzerland is short of 4500-2400 =2100 billion
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