Question

In 2012, there were about 313 million people in the United States, and just under 9 million of them had assets of $1 million or more. At the same time, there were 8,336,697 people in New York City, and 727,100 of them had assets of $1 million or more. Compute the density of millionaires in the general population for New York City and the whole United States. Based on those numbers, select any of the choices below which are true. Millionaires seem to prefer New York City to much of the rest of the United States. There is something in the water of New York City that encourages millionaires. New York has a density of millionaires more than twice that of the country as a whole. The density of millionaires is about the same for New York City as for the United States.

Answer 1

Answer:

The density of millionaires in the whole US is

9 / 313 = 0.02875 = 2.88% of the people in the US are millionaires

The density of millionaires in New York City is

727,100 / 8,336,697 = 0.0872 = 8.71% of the people in New York are millionaires

The statement that is true is

--New York has a density of millionaires more than twice that of the country as a whole.

Step-by-step explanation: