A recently released Gallup survey confirms the fears of many who oppose government-promoted gambling: the poorest among us are contributing much more to lottery revenues than those with higher incomes. The poll found that people who played the lottery with an income of less than $20,000 annually spent an average of $46 per month on lottery tickets. That comes out to more than $550 per year, and it is nearly double the amount spent in any other income bracket.

Question

A recently released Gallup survey confirms the fears of many who oppose government-promoted gambling: the poorest among us are contributing much more to lottery revenues than those with higher incomes. The poll found that people who played the lottery with an income of less than $20,000 annually spent an average of $46 per month on lottery tickets. That comes out to more than $550 per year, and it is nearly double the amount spent in any other income bracket.

The significance of this is magnified when we look deeper into the figures. Those with annual incomes ranging from $30,000 to $50,000 had the second-highest average—$24 per month, or $288 per year. A person making $20,000 spends three times as much on lottery tickets on average than does someone making $30,000. And keep in mind that these numbers represent average spending. For every one or two people who spend just a few bucks a year on lotteries, others spend thousands.

What percentage of income is spent on lottery tickets by

(a) A poor family with an income of $19,500 per year who purchase the average amount of lottery tickets for their income bracket?

Instructions: Enter your response rounded to two decimal places.

%

(b) An affluent family with an income of $37,000 per year who purchase the average amount of lottery tickets for their income bracket?

Instructions: Enter your response rounded to two decimal places.

%

Answer 1

http://www.helpingwithmath.com/by_subject/percentages/per_calculating.htm

I have no idea what the number 63,387 represents. 63,387%???? Learn how to compute percentages.

Answer 2

To calculate the percentage of income spent on lottery tickets by a poor family with an income of $19,500 per year, we first need to find the average amount spent by people in their income bracket. According to the survey, people with an income less than $20,000 spend an average of $46 per month on lottery tickets.

To find the annual amount spent on lottery tickets, we multiply the monthly amount by 12:
$46 per month x 12 months = $552 per year.

To calculate the percentage of income spent on lottery tickets, we divide the annual amount spent on lottery tickets by the annual income and multiply by 100:
($552 / $19,500) x 100 = 2.83%.

Therefore, the poor family with an income of $19,500 who purchase the average amount of lottery tickets for their income bracket spend approximately 2.83% of their income on lottery tickets.

To calculate the percentage of income spent on lottery tickets by an affluent family with an income of $37,000 per year, we need to find the average amount spent by people in their income bracket. According to the survey, people with an income ranging from $30,000 to $50,000 spend an average of $24 per month on lottery tickets.

Using the same method as above, we find that the annual amount spent on lottery tickets is:
$24 per month x 12 months = $288 per year.

To calculate the percentage of income spent on lottery tickets, we follow the same formula:
($288 / $37,000) x 100 = 0.78%.

Therefore, the affluent family with an income of $37,000 who purchase the average amount of lottery tickets for their income bracket spend approximately 0.78% of their income on lottery tickets.