Final answer:
The mean worth of a citizen in the city, calculated by summing the billionaire's worth with the total worth of the other residents and dividing by the total number of residents, is approximately $72,950.
Step-by-step explanation:
To calculate the mean worth of a citizen in the city, we simply sum the total worth and divide by the number of residents. We have one billionaire worth $5.1 billion, and 70,000 other residents each worth $100.
The total worth is calculated as follows:
- Total worth of the billionaire = $5,100,000,000
- Total worth of other residents = 70,000 residents × $100 = $7,000,000
- Total combined worth = $5,100,000,000 + $7,000,000 = $5,107,000,000
To find the mean:
Mean worth = Total combined worth ÷ Total number of residents
Mean worth = $5,107,000,000 ÷ (70,000 residents + 1 billionaire)
Mean worth = $5,107,000,000 ÷ 70,001
Mean worth = approximately $72,950
However, this is not one of the options provided, suggesting there might be a mistake in the options or calculations. Please double-check the numbers provided. If the numbers are correct and options are mistaken, the answer would be closest to option a) $50,000 but still significantly different.
It is important to note that while the mean gives us an average, in scenarios such as these with extreme outliers, the median might be a more representative measure of central tendency.
When a billionaire moved to a city in another country, it instantly became one of the most prosperous regions in that country, even though its 70000 other residents are poor. The billionaire was then worth $5.1 billion. Suppose each of the other 70000 residents of the city was worth $100. Calculate the mean worth of a citizen of the city.