[extropy-chat] millionaires in America--Damien's goof

[Damien Broderick]

>At 07:43 PM 7/28/2005 -0700, Mike wrote:
>
>> > In other words, if I've done my add-ups right, for every millionaire
>> > household that produces at least one millionaire offspring, it takes
>> > 110 poorer households to produce one. I think this was the ratio
>> > Robbie was looking for.
>>
>>Uh, no. It means that someone from a millionaire family is 3 times more
>>likely to become a millionaire than someone not from a millionaire
>>family.
>
>I seem to have failed to count some fingers. Barbara tells me that we're 
>both wrong, but I'm wronger than Mike: the ratio is 1/6.9

I doubt that anyone cares, but I see that my initial error was the sort 
that lithobrakes spacecraft on to Mars. I divided by 4 where I should have 
multiplied by 4. Elementary algebra mistake. D'oh!

Damien Broderick