household net worth question

Statistics
Tutor: None Selected Time limit: 1 Day

A study reported that in 2007 the mean and median net worth of American families were $556,300 and 120,300, respectively

A- is the distribution of net worth for these families likely to be symmetrical, skewed to the right or skewed to the left? Explain.,782

B-  recession of 2008, many americans lost wealth due. in 2009, reported mean and median met worth were reported as 434,787 and 91,304. do you think the difference in decline from 2007 to 09 was larger for the mean than the median?

Jul 3rd, 2015

Thank you for the opportunity to help you with your question!

a) skewed to the right due to the reduction hence small values

b)decline in mean was 121512 while for median was 28996 hence for mean was higher than median

Please let me know if you need any clarification. I'm always happy to answer your questions.
Jul 3rd, 2015

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Jul 3rd, 2015
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Jul 3rd, 2015
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