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    nargis123's Avatar
    nargis123 Posts: 28, Reputation: 1
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    #1

    Nov 6, 2016, 10:14 AM
    Main features of the table - finance you and your money
    Table 1: Spread of different types of wealth between different types of household in Great Britain in 2010–2012


    Can someone please help me with the table below. I have been asked to see if I can understand the data and the key differences and features in the table.

    I have made a start but is there anything else I should include, can someone give me any other info.

    This is what have got so far:
    Table 1 contains different types of wealth between different types of household in Great Britain in 2010-2012. This is outlined in the table by different percentage groups from the poorest 10% of households. The table also outlines different types of wealth which includes property, financial, physical and private pension wealth. It also tells you the number of households in each percentage group which allows you to identify the average for total wealth and the different types of wealth for each household.
    From the table you can also identify the most important types of wealth by different percentage groups of households. It is clear to examine the total wealth is much greater as the percentage of wealth in households increases





    £ million
    Households Property Wealth (net) Financial Wealth (net) Physical Wealth Private Pension Wealth Total Wealth Number of households
    Poorest
    10%
    -3,370 -13,090 17,876 2,481 3,896 2,364,000
    2nd wealthiest 10% 1,232 -1,420 43,524 9,627 52,963 2,379,000
    3rd wealthiest 10% 23,202 960 70,719 36,890 131,772 2,388,000
    4th wealthiest 10% 97,605 13,356 81,511 71,474 263,947 2,408,000
    5th wealthiest 10% 200,480 24,679 90,178 112,952 428,288 2,431,000
    6th wealthiest 10% 292,870 43,093 109,678 166,361 612,002 2,420,000
    7th wealthiest 10% 393,692 70,675 122,588 264,815 851,770 2,443,000
    8th wealthiest 10% 505,777 127,848 141,934 424,145 1,199,705 2,461,000
    9th wealthiest 10% 667,232 206,105 166,560 714,890 1,754,787 2,445,000
    Wealthiest 10% of households 1,349,167 826,657 257,401 1,782,170 4,215,395 2,490,00
    Curlyben's Avatar
    Curlyben Posts: 18,470, Reputation: 1857
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    #2

    Nov 6, 2016, 10:49 AM
    What do YOU think ?
    While we're happy to HELP we wont do all the work for you.
    Show us what you have done and where you are having problems..
    Wondergirl's Avatar
    Wondergirl Posts: 37,829, Reputation: 5427
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    #3

    Nov 6, 2016, 11:32 AM
    He has done some work already and needs help:

    "I have made a start but is there anything else I should include, can someone give me any other info.

    This is what have got so far:
    Table 1 contains different types of wealth between different types of household in Great Britain in 2010-2012. This is outlined in the table by different percentage groups from the poorest 10% of households. The table also outlines different types of wealth which includes property, financial, physical and private pension wealth. It also tells you the number of households in each percentage group which allows you to identify the average for total wealth and the different types of wealth for each household.
    From the table you can also identify the most important types of wealth by different percentage groups of households. It is clear to examine the total wealth is much greater as the percentage of wealth in households increases"
    nargis123's Avatar
    nargis123 Posts: 28, Reputation: 1
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    #4

    Nov 6, 2016, 11:34 AM
    As wonder girl has replied I have already made a start which I have included a paragraph in my post. I just need a little more help as to what else I can include
    joypulv's Avatar
    joypulv Posts: 21,593, Reputation: 2941
    current pert
     
    #5

    Nov 6, 2016, 12:27 PM
    Here's my critique of what you wrote:

    ...different types of wealth between different types of household.. --- what do the 'types of wealth' mean? You need to define each one. 'Different types of households' is actually more vague than the chart itself. It's clear that the 'types' are where each one ranks from poorest to richest.
    ...different percentage groups from the poorest 10% of households. --- I think you mean 'from the poorest to the richest.' Your wording is confusing.
    ...different types of wealth which includes property, financial, physical and private pension wealth. --- AND?? Again, you need to research each term.
    It also tells you the number of households in each percentage group which allows you to identify the average for total wealth and the different types of wealth for each household. --- Redundant, obvious.
    ...identify the most important types of wealth by different percentage groups of households... Be careful about that word important. What do you mean? Highest number means most important? Does it really? Explain. (I don't agree.) Or do you mean the chart includes ONLY the most important types of wealth? What other kinds are there? You sure they aren't all there?
    It is clear to examine the total wealth is much greater as the percentage of wealth in households increases. --- 'clear to examine' is awkward English. You can just say 'It is clear that the total wealth is etc...' But that seems redundant too. Of course the wealth is greater as the percent increases.

    Now that you have stated the obvious, DEFINE THOSE TERMS, and then shorten your statements to leave out the obvious. THEN start thinking about what you can theorize about what you said were 'important' numbers. Why are they important? If not, why not? Take an example: in the 50% group, a house (property) is valued at twice what the pension is worth. The top % has a pension worth more than the house is worth. What does that mean to you, if anything?
    nargis123's Avatar
    nargis123 Posts: 28, Reputation: 1
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    #6

    Nov 6, 2016, 01:18 PM
    Quote Originally Posted by joypulv View Post
    Here's my critique of what you wrote:

    ...different types of wealth between different types of household.. --- what do the 'types of wealth' mean? You need to define each one. 'Different types of households' is actually more vague than the chart itself. It's clear that the 'types' are where each one ranks from poorest to richest.
    ...different percentage groups from the poorest 10% of households. --- I think you mean 'from the poorest to the richest.' Your wording is confusing.
    ...different types of wealth which includes property, financial, physical and private pension wealth. --- AND?? Again, you need to research each term.
    It also tells you the number of households in each percentage group which allows you to identify the average for total wealth and the different types of wealth for each household. --- Redundant, obvious.
    ...identify the most important types of wealth by different percentage groups of households... Be careful about that word important. What do you mean? Highest number means most important? Does it really? Explain. (I don't agree.) Or do you mean the chart includes ONLY the most important types of wealth? What other kinds are there? You sure they aren't all there?
    It is clear to examine the total wealth is much greater as the percentage of wealth in households increases. --- 'clear to examine' is awkward English. You can just say 'It is clear that the total wealth is etc...' But that seems redundant too. Of course the wealth is greater as the percent increases.

    Now that you have stated the obvious, DEFINE THOSE TERMS, and then shorten your statements to leave out the obvious. THEN start thinking about what you can theorize about what you said were 'important' numbers. Why are they important? If not, why not? Take an example: in the 50% group, a house (property) is valued at twice what the pension is worth. The top % has a pension worth more than the house is worth. What does that mean to you, if anything?
    Hello,

    thank you for your post. It has slightly made things clearer. Just a quick question, in terms of the households from poorest to richest and where you provided your example, would this have anything to do with the type of people living in the house, which has an affect on each of the values, i.e. pension wealth as you mentioned
    nargis123's Avatar
    nargis123 Posts: 28, Reputation: 1
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    #7

    Nov 6, 2016, 01:29 PM
    Quote Originally Posted by nargis123 View Post
    Hello,

    thank you for your post. It has slightly made things clearer. Just a quick question, in terms of the households from poorest to richest and where you provided your example, would this have anything to do with the type of people living in the house, which has an affect on each of the values, i.e. pension wealth as you mentioned
    I have looked over my notes for this question and it states I should only focus on what I consider to be the main elements of the table
    'Start with what the table is about (in particular how to read the cells). You can examine the most important types of wealth held by different percentage groups of households and you might also compare the proportion of total wealth in the UK that is held by different decile groups of households. It is important to note that you are not being asked to suggest explanations for why these differences and changes occurred, but only to describe the main features that you see.'
    joypulv's Avatar
    joypulv Posts: 21,593, Reputation: 2941
    current pert
     
    #8

    Nov 6, 2016, 03:08 PM
    Then the teacher goofed, saying 'examine the most important' when he or she meant, I assume, the highest dollar one. But I don't like assuming that. (In fact you could write a whole paper on that.)

    Any, go back and define the terms, in detail. That's the crux of the matter, because everything else is just as you see it.

    You aren't supposed to be thinking about the type of people living a house - nothing matters but dollar amounts, until you compare them with other values and see if you have a theory. Which the teacher doesn't want you to do.

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