An advertising company was awarded the contract to design advertising for Rolls Royce automobiles. An executive in the firm decided to pitch the product not only to the affluent in the United States...

An advertising company was awarded the contract to design advertising for Rolls Royce automobiles. An executive in the firm decided to pitch the product not only to the affluent in the United States but also to those who think they are in the top 1% of income earners in the country. A survey was undertaken, which among other questions asked respondents 25 and over where their annual income ranked. The following responses were given. 1 = Top 1% 2 = Top 5% but not top 1% 3 = Top 10% but not top 5% 4 = Top 25% but not top 10% 5 = Bottom 75% Estimate with 90% confidence the number of Americans 25 and over who believe they are in the top 1% of income earners. The number of Americans over 25 is 211,306,936. (Source: United States Census).