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Chapter 2: Q6 (page 76)

Distribution of Wealth In recent years, there has been much discussion about the distribution of wealth of adults in the United States. If you plan to conduct original research by somehow obtaining the amounts of wealth of 3000 randomly selected adults, what graph would be best for illustrating the distribution of wealth?

Short Answer

Expert verified

A histogram would be best for representing the amount of wealth owned by the adults of the United States.

Step by step solution

01

Given information

The amount of wealth owned by 3000 randomly selected adults in the US is obtained.

02

Describe the criteria for choosing a graph

The graphs differ as per the nature of the data. Primarily, the choice is made on the basis of the qualitative or quantitative nature of variables.

The correct choice of graph helps to derive a better interpretation of the data.

03

Explain the choice of graph for the given data

The data for the wealth possessed by 3000 adults in the US would be quantitative and include a large number of observations. A grouped frequency distribution can be constructed for compact summarization of the entire data.

Thus, a grouped distribution of data can be used to construct a histogram. A histogram correctly depicts and summarizes huge sets of data for the reader to draw correct conclusions.

A histogram would aptly represent the amount of wealth owned by showing the number of adults that fall in a particular interval.

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