A survey of a random sample of the Australian population showed that 28% of people earned more than $80 000 a year. If the working population of Australia is 11 million people, how many people would you expect to earn over $80 000?
Question
A survey of a random sample of the Australian population showed that 28% of people earned more than 80 000?
Solution
To find out how many people earn over $80,000 a year, you need to calculate 28% of the total working population.
Step 1: Convert the percentage into a decimal. 28% becomes 0.28.
Step 2: Multiply the total working population by the decimal.
So, 0.28 * 11,000,000 = 3,080,000.
Therefore, you would expect about 3,080,000 people in Australia to earn over $80,000 a year.
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