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Mathematics, 26.03.2021 03:20 aevans3503
Vilfredo Pareto (1848 - 1923) observed that most of the wealth of a country is owned by a few members
of the population. Pareto's Principle is
log P = log C-klog W,
where W is the wealth level (how much money a person has) and P is the number of people in the
population having that much money.
A) Solve the equation for p
B) Assume k = 2.1, c = 9,000, and W is measured in millions of dollars. Use part (A) to find the
number of people who have $5 million or more
C) How many people have $15 million?
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Answers: 2
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Vilfredo Pareto (1848 - 1923) observed that most of the wealth of a country is owned by a few member...
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