RE:[tips] So You Want To Be A Billionaire, Part 2

2009-09-10 Thread Mike Palij
I apologize for not having time to write dissertation type responses so I will be brief. [snip] MP: Note that 4.5% of this group have doctorates. In previous posts on this topic, estimates of the percentage in the general population were calculated using the Census* Community Survey data.

Re: [tips] So You Want To Be A Billionaire?

2009-09-10 Thread Jim Clark
Hi Mike asked about what denominator was used to arrive at 1.25%. If you go to the tables he linked to you will find that total column gives value of 196,305,000 for 25 years and over. This is the value Mike used in the denominator below (in thousands, the same as the numerator). The ENTIRE

RE: [tips] So You Want To Be A Billionaire, Part 2

2009-09-09 Thread Jim Clark
Hi First, thanks to Mike for taking the time to track down this information. Just a couple of points ... I've reordered relevant parts of Mike's posting (prefaces by MP:) before my comments (prefaced by JC:). [apologies if this is duplicate or triplicate or ... I've had to send it a number of

RE: [tips] So You Want To Be A Billionaire, Part 2

2009-09-03 Thread Rick Froman
In summary, what can one say about the richest 400minus2 people in the U.S.? I can say that the probability of a person living in the US being one of them is approximately 0.013 so you might not want to choose your educational goals based on your dream of becoming one of them. Rick Dr.

Re: [tips] So You Want To Be A Billionaire, Part 2

2009-09-03 Thread Ken Steele
Another way to express the issue is that your chances of being one of the 400 richest billionaires are slightly less than playing in the NBA. Ken Rick Froman wrote: In summary, what can one say about the richest 400minus2 people in the U.S.? I can say that the probability of a person

Re: [tips] So You Want To Be A Billionaire?

2009-09-02 Thread Jim Clark
Hi James M. Clark Professor of Psychology 204-786-9757 204-774-4134 Fax j.cl...@uwinnipeg.ca Mike Palij m...@nyu.edu 01-Sep-09 10:44:08 AM On Tue, 01 Sep 2009 05:43:36 -0700, Jim Clark wrote: Mike Palij m...@nyu.edu 31-Aug-09 2:12:45 PM On Sun, 30 Aug 2009 22:18:52 -0700, Jim Clark wrote:

Re: [tips] So You Want To Be A Billionaire?

2009-09-01 Thread Jim Clark
Hi James M. Clark Professor of Psychology 204-786-9757 204-774-4134 Fax j.cl...@uwinnipeg.ca Mike Palij m...@nyu.edu 31-Aug-09 2:12:45 PM On Sun, 30 Aug 2009 22:18:52 -0700, Jim Clark wrote: These lists, especially by themselves, do NOT allow the kinds of inferences Mike appears to make.

Re: [tips] So You Want To Be A Billionaire?

2009-09-01 Thread Mike Palij
On Tue, 01 Sep 2009 05:43:36 -0700, Jim Clark wrote: Mike Palij m...@nyu.edu 31-Aug-09 2:12:45 PM On Sun, 30 Aug 2009 22:18:52 -0700, Jim Clark wrote: These lists, especially by themselves, do NOT allow the kinds of inferences Mike appears to make. I'm not sure I understand what kind of

Re: [tips] So You Want To Be A Billionaire?

2009-08-31 Thread Mike Palij
On Sun, 30 Aug 2009 22:18:52 -0700, Jim Clark wrote: Hi Howdy, These lists, especially by themselves, do NOT allow the kinds of inferences Mike appears to make. I'm not sure I understand what kind of inferences you're referring to. I do NOT assume that this is a random sample from a

Re: [tips] So You Want To Be A Billionaire?

2009-08-31 Thread Mike Palij
On Mon, 31 Aug 2009 12:39:26 -0700, Dr. Bob Wildblood wrote: I think what it means when the most educated are not also found to be at least among the wealthiest in a culture is that the people of that culture value many other things more than knowledge and education. Is that why the wealthiest

RE: [tips] So You Want To Be A Billionaire?

2009-08-31 Thread Mike Palij
On Mon, 31 Aug 2009 13:41:11 -0700, Joseph J. Horton wrote: If you set your sights lower and are just interested in becoming a millionaire, you might enjoy The Millionaire Next Door or The Millionaire Mind both by Thomas Stanley. There are some methodological issues such as the lack of comparison

RE: [tips] So You Want To Be A Billionaire?

2009-08-31 Thread Rick Froman
From: Mike Palij [m...@nyu.edu] Sent: Monday, August 31, 2009 3:33 PM To: Teaching in the Psychological Sciences (TIPS) Cc: Mike Palij Subject: Re: [tips] So You Want To Be A Billionaire? On Mon, 31 Aug 2009 12:39:26 -0700, Dr. Bob Wildblood wrote: I think what it means

RE: [tips] So You Want To Be A Billionaire?

2009-08-31 Thread Horton, Joseph J.
...@gcc.edu In God we trust. All others must bring data. -Original Message- From: Mike Palij [mailto:m...@nyu.edu] Sent: Mon 8/31/2009 5:51 PM To: Teaching in the Psychological Sciences (TIPS) Cc: Mike Palij Subject: RE: [tips] So You Want To Be A Billionaire? On Mon, 31 Aug 2009 13:41

Re: [tips] So You Want To Be A Billionaire?

2009-08-30 Thread Jim Clark
Hi These lists, especially by themselves, do NOT allow the kinds of inferences Mike appears to make. The list looks at (a) a tiny fraction of the relevant population (100 people or even 400) and (b) ONLY those with enough wealth to be billionaires. To illustrate the problem, consider the 4