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Suppose the household incomes for Kamloops are normally distributed with mean $62,000 and standard deviation $6,800. a) If 50 households are randomly selected, find the probability that their mean household income is below $65,000. b) If households with the bottom 10% of incomes qualify for a special tax cut, what is the maximum income required to qualify for the tax cut?

Suppose the household incomes for Kamloops are normally distributed with mean $62,000 and standard deviation $6,800. a) If 50 households are randomly selected, find the probability that their mean household income is below $65,000. b) If households with the bottom 10% of incomes qualify for a special tax cut, what is the maximum income required to qualify for the tax cut?

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
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Suppose the household incomes for Kamloops are normally distributed with mean $62,000 and standard deviation $6,800. a) If 50 households are randomly selected, find the probability that their mean household income is below $65,000. b) If households with the bottom 10% of incomes qualify for a special tax cut, what is the maximum income required to qualify for the tax cut?
Transcribed Image Text:Suppose the household incomes for Kamloops are normally distributed with mean $62,000 and standard deviation $6,800. a) If 50 households are randomly selected, find the probability that their mean household income is below $65,000. b) If households with the bottom 10% of incomes qualify for a special tax cut, what is the maximum income required to qualify for the tax cut?
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