Most of the Wealth Represented by the Forbes 400 List

question 4

Multiple Choice

Most of the wealth represented by the Forbes 400 list of the wealthiest people and families in the U.S.

• A) has been earned in the oil industry.
• B) was built on borrowed wealth from family.
• C) belongs to major athletes.
• D) is earned by an individual during their lifetime.

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Definitions:

Z-test

A statistical test used to determine if there is a significant difference between sample and population means, assuming the population variance is known.

Chi-squared Test

The Chi-squared test is a statistical method used to determine if there is a significant difference between the expected and observed frequencies in one or more categories.

Test Statistic

A quantity derived from sample data used to make a decision about a hypothesis test.

Z

'Z' often represents the Z-score in statistics, which is the number of standard deviations a data point is from the mean of the data set.