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Created: Jun 17, 2019
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EBL-Ch3-Forbes Richest Billionaires

Data was based on Forbes.com 2008 Richest Americans. All numbers are in billions.

Central Tendency

The average or mean of the Richest American's in 2008 is 9.216 Billion.

The median or middle of the Richest American's in 2008 is 6.3 Billion. This would imply a left-skewed distribution.

The mode is 3.5 Billion.

Variation

With the standard deviation of 8.45 Billion,

The range of the data is 55.5 Billion. Meaning there was 55.5 Billion wealth gap between the richest person on the list, and "poorest" billionaire.

5 Number Summary

3.5, 4.45, 6.3, 11.25, 59; would imply that there is a fair wealth gap even among billionaires.

No outliers in the dataset.

This data is important to me due to the career path I'm on. As I work for the ultra-wealthy. I am not surprised by the data. Even with ultra-wealthy, there is a huge concentration on the top and bottom span of the data.

The boxplot shows the tails to be almost similar, yet the data shows that it's left-skewed.

Result 1: Summary Stats-RichestStats   [Info]

### Summary statistics:

ColumnnMeanVarianceStd. dev.Std. err.MedianRangeMinMaxQ1Q3SumIQRMode
Net Worth (\$Bil)1009.21671.4789338.45452150.845452156.355.53.5594.4511.25921.66.83.5

Result 2: Boxplot-Richest   [Info]

Data set 1. Forbes Richest Americans   [Info]