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(a) To the nearest 0.01, what is the probability that a randomly selected household has an income greater than $76,000? [Select ]. (b) To the nearest 0.01, what is the probability that a randomly selected household has an income between $50,000 and $80,000? [Select] (c) To the nearest $100, how high would an income need to be in order to fall in the top 1%? $ I Select 1

(a) To the nearest 0.01, what is the probability that a randomly selected household has an income greater than $76,000? [Select ]. (b) To the nearest 0.01, what is the probability that a randomly selected household has an income between $50,000 and $80,000? [Select] (c) To the nearest $100, how high would an income need to be in order to fall in the top 1%? $ I Select 1

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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In 2014, the average income (AGI) for an American household is $71,394. Assume this income is normally distributed with a population standard deviation of $10,000. (a) To the nearest 0.01, what is the probability that a randomly selected household has an income greater than $76,000? [Select ]. (b) To the nearest 0.01, what is the probability that a randomly selected household has an income between $50,000 and $80,000? [Select] (c) To the nearest $100, how high would an income need to be in order to fall in the top 1%? $ [ Select ] (d) The answers calculated above don't actually correctly predict the distribution of income in the US. Which of the following must be true? [Select]
Transcribed Image Text:In 2014, the average income (AGI) for an American household is $71,394. Assume this income is normally distributed with a population standard deviation of $10,000. (a) To the nearest 0.01, what is the probability that a randomly selected household has an income greater than $76,000? [Select ]. (b) To the nearest 0.01, what is the probability that a randomly selected household has an income between $50,000 and $80,000? [Select] (c) To the nearest $100, how high would an income need to be in order to fall in the top 1%? $ [ Select ] (d) The answers calculated above don't actually correctly predict the distribution of income in the US. Which of the following must be true? [Select]
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