According to Money magazine, Maryland had the highest median annual household income of any state in 2018 at $75,847 (Time.cc Assume that annual household income in Maryland follows a normal distribution with a median of $75,847 and standard deviation of a. What is the probability that a household in Maryland has an annual income of $100,000 or more (to 4 decimals)? 0.2374 b. What is the probability that a household in Maryland has an annual income of $40,000 or less (to 4 decimals)?
According to Money magazine, Maryland had the highest median annual household income of any state in 2018 at $75,847 (Time.cc Assume that annual household income in Maryland follows a normal distribution with a median of $75,847 and standard deviation of a. What is the probability that a household in Maryland has an annual income of $100,000 or more (to 4 decimals)? 0.2374 b. What is the probability that a household in Maryland has an annual income of $40,000 or less (to 4 decimals)?
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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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)?
0.2374
b. What is the probability that a household in Maryland has an annual income of $40,000 or less (to 4 decimals)?
0.1444
c. What is the probability that a household in Maryland has an annual income between $50,000 and $70,000 (to 4 dacimals)?
0.2091
d. What is the annual income of a household in the 90th percentile of annual household income in Maryland (to the nearest dollar)?
$ 119179
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