Question

2. Use "Wealthiest_Americans" data in Chapter2.xlsx to answer the following questions. For questions that require Excel, include the appropriate output (copy + paste) along with an explanation.

Data description: The accompanying table lists a portion of the ages and net worth (in $ billions) of the wealthiest people in America.

Questions:

a.     What percentage of the wealthiest people in America had net worth more than $20 billion?

b.     What percentage of the wealthiest people in America had net worth between $10 billion and $20 billion?

c.     Construct a scatterplot between age and net worth. Describe the relationship between the two variables from the plot.

Name	Age	Net Worth
William Gates III	53	50
Warren Buffet	79	40
Lawrence Ellison	65	27
Christy Walton	54	21.5
Jim Walton	61	19.6
Alice Walton	60	19.3
S. Robson Walton	65	19
Michael Bloomberg	67	17.5
Charles Koch	73	16
David Koch	69	16
Sergey Brin	36	15.3
Larry Page	36	15.3
Michael Dell	44	14.5
Steven Ballmer	53	13.3
George Soros	79	13
Donald Bren	77	12
Paul Allen	56	11.5
Abigail Johnson	47	11.5
Forrest Edward Mars	78	11
Jacqueline Mars	70	11
John Franklyn Mars	73	11
Carl Icahn	73	10.5
Ronald Perelman	66	10
George Kaiser	67	9.5
Philip Knight	71	9.5

Answer 1

Sr. no	sorted X
1	9.5
2	9.5
3	10
4	10.5
5	11
6	11
7	11
8	11.5
9	11.5
10	12
11	13
12	13.3
13	14.5
14	15.3
15	15.3
16	16
17	16
18	17.5
19	19
20	19.3
21	19.6
22	21.5
23	27
24	40
25	50

1)

here is 4 people that have net worth more than $20billion

and total people =25

so, percentage of the wealthiest people in America had net worth more than $20 billion = 4/25*100=16%

2)

here is 19 people that have net worth between $10 billion and $20 billion

so, required percentage = 19/25*100=76%

3)

there seems no relation between age and net worth