A friend gave me permission to turn our email discussion into an article…
Can you help us figure out how to figure out this problem? I think we have all the information we need, but I’m not sure:
The average household income in the United States is $60,000/year. And a man’s annual income is $56 billion. Is there a way to figure out what this man’s value of $1mil is, compared to the person who earns $60,000/year? In other words, I would like to say — $1,000,000 to us is like 10 cents to Bill Gates.
Let the Reader Beware
When I looked up Bill Gates at Wikipedia, I found out that $56 billion is his net worth, not his income. His salary is $966,667. Even assuming he has significant investment income, as he surely does, that is still a difference of several orders of magnitude.
But I didn’t research the details before answering my email — and besides, it is a lot more fun to play with the really big numbers. Therefore, the following discussion will assume my friend’s data are accurate…
Another look at the Bill Gates proportion… Even though I couldn’t find any data on his real income, I did discover that the median American family’s net worth was $93,100 in 2004 (most of that is home equity) and that the figure has gone up a bit since then. This gives me another chance to play around with proportions.
The median American family has a net worth of about $100 thousand. Bill Gates has a net worth of $56 billion. If Average Jane Homeschooler spends $100 in the vendor hall, what would be the equivalent expense for Gates?
Seven years ago, I blogged a revision of the first article I ever wrote about homeschooling math. I can’t even remember when the original article was published — years before the original (out of print) editions of my math books.
I hope you enjoy this “Throw-back Thursday” blast from the Let’s Play Math! blog archives:
I love story problems. Like a detective, I enjoy sifting out clues and solving the mystery. But what do you do when you come across a real stumper? Acting out story problems could make a one-page assignment take all week.
You don’t have to bake a pie to study fractions or jump off a cliff to learn gravity. Use your imagination instead. The following suggestions will help you find the clues you need to solve the case…
It’s important to teach our children to ask questions, about math and about life. As I wrote in my series about homeschooling with math anxiety, “School textbooks only ask questions for which they know the answer. When homeschoolers learn to think like mathematicians, we will ask a different type of question.”
My favorite playful math lessons rely on adult/child conversation — a proven method for increasing a child’s reasoning skills. What better way could there be to do math than snuggled up on a couch with your little one, or side by side at the sink while your middle-school student helps you wash the dishes, or passing the time on a car ride into town?
As soon as your little ones can count past five, start giving them simple, oral story problems to solve: “If you have a cookie and I give you two more cookies, how many cookies will you have then?”
The fastest way to a young child’s mind is through the taste buds. Children can easily visualize their favorite foods, so we use mainly edible stories at first. Then we expand our range, adding stories about other familiar things: toys, pets, trains.
We continue with our counting lessons — and once again, Kitten proves that she doesn’t think the same way I do. In fact, her solution is so elegant that I think she could have a future as a mathematician. After all, every aspiring novelist needs a day job, right?
If only I could get her to give up the idea that she hates math…
Permutations with Complications
How many of the possible distinct arrangements of 1-6 have 1 to the left of 2?