Calculate the Per Capita Income of two countries A and B....
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Answers
Per capita means per person. It is a Latin term that translates to "by the head." It's commonly used in statistics, economics, and business to report an average per person. It tells you how a country, state, or city affects its residents.1
Per capita is often used to compare the economic indicators of countries with different population sizes. The most commonly measured indicators that use per capita are gross domestic product and income.
In legal matters, per capita has a very precise definition. It means to divide an estate equally among all living beneficiaries. The other method is per stirpes. That means to divide the estate between the branches of the family, regardless of the number of people in each branch.2
How to Calculate per Capita
Per capita divides a statistical measurement for an organization by its population. The formula is:
Measurement / Population = Measurement per capita
So, if 1,000 apples are together owned by 10 people, we can say there are 100 apples per capita.
When measuring things like the incidence or prevalence of diseases that occur infrequently, then per capita is reported as per 100,000 people.3 For example:
Number of Heart Attacks / Population = Heart Attacks per capita
Heart Attacks per capita * 100,000 = Heart Attacks per 100,000
Explanation:
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