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Distribution of Wealth If we model after-tax household income by a normal distribution, then the figures of a study conducted in a certain year imply the information in the following table. Assume that the distribution of incomes in each country is bell-shaped and symmetric. Country United States Canada Switzerland Germany Sweden Mean Household Income $25,000 $39,000 $20,000 $33,000 $36.000 Standard Deviation $11,000 $15,000 $13,000 $15,000 $17,000 If we define a "rich" household as one whose after-tax income is at least 1.0 standard deviations above the mean, what is the minimum household income (in dollars) of a rich family in Canada?

Distribution of Wealth If we model after-tax household income by a normal distribution, then the figures of a study conducted in a certain year imply the information in the following table. Assume that the distribution of incomes in each country is bell-shaped and symmetric. Country United States Canada Switzerland Germany Sweden Mean Household Income $25,000 $39,000 $20,000 $33,000 $36.000 Standard Deviation $11,000 $15,000 $13,000 $15,000 $17,000 If we define a "rich" household as one whose after-tax income is at least 1.0 standard deviations above the mean, what is the minimum household income (in dollars) of a rich family in Canada?

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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Distribution of Wealth tf we model after-tax household income by a normal distribution, then the figures of a study conducted in a certain year imply the information in the following table. Assume that the distnbution of incomes in each country is bell-shaped and symmetric. Country United States Canada Switzerland Germany Sweden Mean Household Income $25,000 $39,000 $20,000 $33.000 $36.000 Standard Deviation $11,000 $15,000 $13,000 $15,000 $17.000 If we define a "rich" househoid as one whose after-tax income is at least 1.0 standard deviations above the mean, what is the minimum household income (in dollars) of a rich family in Canada?
Transcribed Image Text:Distribution of Wealth tf we model after-tax household income by a normal distribution, then the figures of a study conducted in a certain year imply the information in the following table. Assume that the distnbution of incomes in each country is bell-shaped and symmetric. Country United States Canada Switzerland Germany Sweden Mean Household Income $25,000 $39,000 $20,000 $33.000 $36.000 Standard Deviation $11,000 $15,000 $13,000 $15,000 $17.000 If we define a "rich" househoid as one whose after-tax income is at least 1.0 standard deviations above the mean, what is the minimum household income (in dollars) of a rich family in Canada?
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