The following table shows the distribution of household incomes in 2010 for a sample of 1,000 households in a country with incomes up to $100,000. Income ($1,000) 10 30 50 70 90 Households 230 260 180 150 180 Compute the expected value ? and the standard deviation ? of the associated random variable X. (Round your answers to the nearest $1,000.
The following table shows the distribution of household incomes in 2010 for a sample of 1,000 households in a country with incomes up to $100,000. Income ($1,000) 10 30 50 70 90 Households 230 260 180 150 180 Compute the expected value ? and the standard deviation ? of the associated random variable X. (Round your answers to the nearest $1,000.
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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The following table shows the distribution of household incomes in 2010 for a sample of 1,000 households in a country with incomes up to $100,000.
| Income ($1,000) | 10 | 30 | 50 | 70 | 90 |
|---|---|---|---|---|---|
| Households | 230 | 260 | 180 | 150 | 180 |
Compute the expected value ? and the standard deviation ? of the associated random variable X. (Round your answers to the nearest $1,000.)
?= $?= $
If we define a "lower-income" family as one whose income is more than one standard deviation below the mean and a "higher-income" family as one whose income is at least one standard deviation above the mean, what is the income gap between higher- and lower-income families in the country? (Round your answer to the nearest $1,000.)
$
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