What is the income distribution of super shoppers? A supermarket super shopper is defined as a shopper for whom at least 70% of the items purchased were on sale or purchased with a coupon. In the following table, income units are in thousands of dollars, and each interval goes up to but does not include the given high value. The midpoints are given to the nearest thousand dollars. Income range 5-15 15-25 25-35 35-45 45-55 55 or more Midpoint x 10 20 30 40 50 60 Percent of super shoppers 20% 13% 22% 17% 18% 10% (c) Compute the expected income μ of a super shopper (in thousands of dollars). (Enter a number. Round your answer to two decimal places.) μ = thousands of dollars (d) Compute the standard deviation σ for the income of super shoppers (in thousands of dollars). (Enter a number. Round your answer to two decimal places.) σ = thousands of dollars
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
What is the income distribution of super shoppers? A supermarket super shopper is defined as a shopper for whom at least 70% of the items purchased were on sale or purchased with a coupon. In the following table, income units are in thousands of dollars, and each interval goes up to but does not include the given high value. The midpoints are given to the nearest thousand dollars.
| Income |
5-15 | 15-25 | 25-35 | 35-45 | 45-55 | 55 or more |
|---|---|---|---|---|---|---|
| Midpoint x | 10 | 20 | 30 | 40 | 50 | 60 |
| Percent of super shoppers | 20% | 13% | 22% | 17% | 18% | 10% |
(c)
Compute the expected income μ of a super shopper (in thousands of dollars). (Enter a number. Round your answer to two decimal places.)
μ = thousands of dollars
(d)
Compute the standard deviation σ for the income of super shoppers (in thousands of dollars). (Enter a number. Round your answer to two decimal places.)
σ = thousands of dollars
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