5. Willing
Effort($)=0,01
Willing
Effort($)=1
1 cent 1 dollar Income:
40.000$
Income:
4,000,000,0001
Page 5
Average USA teacher.
Bill Gates
(1) Forbes 2015 - Forbes 2014
Fortune, and rounded down a lot to
convenience
6. Willing
Effort($)=0,01
Willing
Effort($)=1
1 cent 1 dollar
Income:
40.000$
1,000$ 100,000$ Income:
4,000,000,0001
Page 6
Average USA teacher.
Bill Gates
(1) Forbes 2015 - Forbes 2014
Fortune, and rounded to
convenience
Resistance to Pay x$ = Willing Effort
x$
8. Page 8
Bill Gates
Average USA teacher.
Resistance to Pay Rice month
Resistance to Pay Car
global (month)
Rteacher(4$)=4 Rteacher(5k$)=83
Rbill(40$)=0.0004 Rbill(500.k$)=0.8
R33(4$)=66 R33(5k$)=5.500
33% of world pop.
(600$ year income)
10. Page 10
•Explore data
•Construct a hypothesis
•Model formulation in mathematical
form
•Test with experiments
•Analyze the results
•Judicious scientific evaluation of the
results