According to Money magazine, Maryland had the highest median annual household income of any state in 2018 at $75,847 (Time.com website). Assume that annual household income in Maryland follows a normal distribution with a median of $75,847 and standard deviation of $33,800. a. What is the probability that a household in Maryland has an annual income of $100,000 or more (to 4 decimals)? b. What is the probability that a household in Maryland has an annual income of $40,000 or less (to 4 decimals)? C. What is the probability that a household in Maryland has an annual income between $50,000 and $70,000 (to 4 decimals)? d. What is the annual income of a household in the 90th percentile of annual household income in Maryland (to the nearest dollar)? $.

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According to Money magazine, Maryland had the highest median annual household income of any state in 2018 at $75,847 (Time.com website).
Assume that annual household income in Maryland follows a normal distribution with a median of $75,847 and standard deviation of $33,800.
a. What is the probability that a household in Maryland has an annual income of $100,000 or more (to 4 decimals)?
b. What is the probability that a household in Maryland has an annual income of $40,000 or less (to 4 decimals)?
c. What is the probability that a household in Maryland has an annual income between $50,000 and $70,000 (to 4 decimals)?
d. What is the annual income of a household in the 90th percentile of annual household income in Maryland (to the nearest dollar)?
$4
Transcribed Image Text:According to Money magazine, Maryland had the highest median annual household income of any state in 2018 at $75,847 (Time.com website). Assume that annual household income in Maryland follows a normal distribution with a median of $75,847 and standard deviation of $33,800. a. What is the probability that a household in Maryland has an annual income of $100,000 or more (to 4 decimals)? b. What is the probability that a household in Maryland has an annual income of $40,000 or less (to 4 decimals)? c. What is the probability that a household in Maryland has an annual income between $50,000 and $70,000 (to 4 decimals)? d. What is the annual income of a household in the 90th percentile of annual household income in Maryland (to the nearest dollar)? $4
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