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2. Income is not normally distributed; instead, it is skewed right. This is because there are a few people who earn much more than the mean income, so there is a long tail to the right in the histogram. Rounded to the nearest thousand dollars, the mean household income in the U.S. is µ = $73,000 (which is higher than the median of about $61,000) and the standard deviation is o = $28,000. a) Even though the income of individual households is not normally distributed, there is a Theorem that assures us that if we take large groups of households and average their incomes together, the resulting numbers i will be normally distributed. Which theorem assures us of this? b) If you found the average income of all possible groups of size n = 400, and then averaged all of those averages together, what would you expect that “mean of the means" to be? In other words, what is µz? c) If you looked at how much deviation there was between all possible groups of size n = 400, what would you expect to find? In other words, what is the standard error ơ̟ for n = 400?

2. Income is not normally distributed; instead, it is skewed right. This is because there are a few people who earn much more than the mean income, so there is a long tail to the right in the histogram. Rounded to the nearest thousand dollars, the mean household income in the U.S. is µ = $73,000 (which is higher than the median of about $61,000) and the standard deviation is o = $28,000. a) Even though the income of individual households is not normally distributed, there is a Theorem that assures us that if we take large groups of households and average their incomes together, the resulting numbers i will be normally distributed. Which theorem assures us of this? b) If you found the average income of all possible groups of size n = 400, and then averaged all of those averages together, what would you expect that “mean of the means" to be? In other words, what is µz? c) If you looked at how much deviation there was between all possible groups of size n = 400, what would you expect to find? In other words, what is the standard error ơ̟ for n = 400?

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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hello can you please answer 2a 2b and 2c thank you so much!
2. Income is not normally distributed; instead, it is skewed right. This is because there are a few people who earn much more than the mean income, so there is a long tail to the right in the histogram. Rounded to the nearest thousand dollars, the mean household income in the U.S. is µ = $73,000 (which is higher than the median of about $61,000) and the standard deviation is o = $28,000. a) Even though the income of individual households is not normally distributed, there is a Theorem that assures us that if we take large groups of households and average their incomes together, the resulting numbers ī will be normally distributed. Which theorem assures us of this? b) If you found the average income of all possible groups of size n = 400, and then averaged all of those averages together, what would you expect that “mean of the means" to be? In other words, what is µz? c) If you looked at how much deviation there was between all possible groups of size n = 400, what would you expect to find? In other words, what is the standard error og for n = 400?
Transcribed Image Text:2. Income is not normally distributed; instead, it is skewed right. This is because there are a few people who earn much more than the mean income, so there is a long tail to the right in the histogram. Rounded to the nearest thousand dollars, the mean household income in the U.S. is µ = $73,000 (which is higher than the median of about $61,000) and the standard deviation is o = $28,000. a) Even though the income of individual households is not normally distributed, there is a Theorem that assures us that if we take large groups of households and average their incomes together, the resulting numbers ī will be normally distributed. Which theorem assures us of this? b) If you found the average income of all possible groups of size n = 400, and then averaged all of those averages together, what would you expect that “mean of the means" to be? In other words, what is µz? c) If you looked at how much deviation there was between all possible groups of size n = 400, what would you expect to find? In other words, what is the standard error og for n = 400?
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