Exercise 7 In a large corporation, people over age thirty have an annual income whose distribution can be approximated by a normal distribution with mean $60,000 and standard deviation $10,000. The incomes of those under age thirty are also approximately normal, but with mean $40,000 and standard deviation $10,000. a) Two people are selected at random from those over age thirty. The chance that the average of their two incomes is over $65, 000 is equal to. 0.1587 b) One person is selected at random from those over thirty, and independently, one person is selected at random from those under thirty. The chance that the younger's income exceeds the older's is equal to 0.1587. c) The chance that the smaller of the two incomes in b) exceeds $50,000 is equal to 0.1335 (rounded).
Exercise 7 In a large corporation, people over age thirty have an annual income whose distribution can be approximated by a normal distribution with mean $60,000 and standard deviation $10,000. The incomes of those under age thirty are also approximately normal, but with mean $40,000 and standard deviation $10,000. a) Two people are selected at random from those over age thirty. The chance that the average of their two incomes is over $65, 000 is equal to. 0.1587 b) One person is selected at random from those over thirty, and independently, one person is selected at random from those under thirty. The chance that the younger's income exceeds the older's is equal to 0.1587. c) The chance that the smaller of the two incomes in b) exceeds $50,000 is equal to 0.1335 (rounded).
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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Transcribed Image Text:Exercise 7 In a large corporation, people over age thirty have an annual income whose distribution
can be approximated by a normal distribution with mean $60,000 and standard deviation $10,000.
The incomes of those under age thirty are also approximately normal, but with mean $40,000 and
standard deviation $10,000.
a) Two people are selected at random from those over age thirty. The chance that the average
of their two incomes is over $65, 000 is equal to. 0.1587
b) One person is selected at random from those over thirty, and independently, one person is
selected at random from those under thirty. The chance that the younger's income exceeds
the older's is equal to 0.1587.
c) The chance that the smaller of the two incomes in b) exceeds $50,000 is equal to 0.1335
(rounded).
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