Fifty Richest People In America

Our group chose to do a study of the fifty richest people in the United States, and to do this, our
group used the forbes 400 list to reach our conclusions.
Mean: $22.9 Billion
Median: $17.9 Billion
Mode: $23.4 Billion
Range: $67.0 Billion
For our data we calculated at 5% and 10% trimmed mean of our list of the fifty richest people in
America. This enables us to trimed either 5 or 10 percents off the entire data values in our list of
the fifty richest people in America.
5% Trimmed Mean: $21.1 Billion
10% Trimmed Mean: $20.5 Billion
In our study our group also calculated the variance, standard deviation, and coefficient of
variation for the fifty richest people in America. By calculating this data, this enables our group
to measure the distribution or spread of the data around an expected value of the sample, or
population mean.
Variance $207.4 Billion
Standard deviation $14.4 Billion
Coefficient of variation 63%
To further analyze our data, our group calculated the interval at which our data points lie both for
75% and 88.9%
Interval 75%: -$5.9 and $51.7
Interval 88.9% -$20.3 and $66.1
To help when making a bar graph, our group determined the min and the maximum digits, along
with the first and third quartile. The first quartile of our data represents the median of the lower
half of our data, that is the fifty richest people in America. While, the third quartile represents the
median of the upper half of our data. The min and the max, represent the highest and lowest
values in our data set. The highest with a net wealth of $76.0 billion was Bill Gates and the
lowest at 11.6 Billion was media mogul Jim Kennedy.

MIN: $9.0 Billion

Q1: $11.6 Billion

MED: $17.9 Billion
Q3: $31.7 Billion
MAX: $76.0 Billion
The group also calculated interquartile range for our data values, which is the third quartile
minus the first quartile.
IQR: $20.1 Billion
Lastly, our group found the outliers in our data set and determined those to be Bill Gates with
$76 Billion, and Warren Buffett with $62 Billion.
MIN $9.0
Q1 $11.6
MED $17.9
Q3 $31.7
MAX: $76.0 Billion
Below, is the box and whisker plot for our data, using the new worths of fifty of the richest
people in
America.