An article in the European Physical Journal B ['Evidence for the exponential distribution of income in the USA" (2001, Vol. 20, pp. 585-589) shows that individual income in the US can be approximated with an exponential distribution. Suppose that the mean of individual income in a year is $54,000. What percentage of individuals in the US earn less than $40,000? O A. 0.37 OB. 0.50 OC 0.48 OD. 0.52

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An article in the European Physical Journal B ["Evidence for the exponential distribution of income in the USA" (2001, Vol. 20, pp. 585-589)] shows that individual income in the US can be approximated with an exponential distribution. Suppose that the mean of individual income in a year is $54,000.
What percentage of individuals in the US earn less than $40,000?
O A. 0.37
OB. 0.50
OC. 0.48
O D. 0.52
Transcribed Image Text:An article in the European Physical Journal B ["Evidence for the exponential distribution of income in the USA" (2001, Vol. 20, pp. 585-589)] shows that individual income in the US can be approximated with an exponential distribution. Suppose that the mean of individual income in a year is $54,000. What percentage of individuals in the US earn less than $40,000? O A. 0.37 OB. 0.50 OC. 0.48 O D. 0.52
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