Answered: (a) What percentage of the population…

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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Question

6. Family income is believed to be normally distributed with a mean of Kshs. 40,000 and a
standard deviation on Kshs. 12,000. If the minimum affluence level is Kshs. 18,000,
(a) What percentage of the population lives in affluence?
(b) An amended tax law is expected to benefit “majority” of families, those with incomes
between Kshs. 60,000 and Kshs. 90,000. What percentage of the population will
benefit from the law?

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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