The country with smallest gap between rich and poor out of five countries if a rich household family is one whose income after paying the tax is at least 1.3 standard deviation above the mean and a poor household family is one whose income after paying the tax is at least 1.3 standard deviation below the mean. The normal distribution of household incomes includes the mean income and its standard deviation in the year 1995 . Country United States Canada Switzerland Germany Sweden Mean household Income $ 38 , 000 $ 35 , 000 $ 39 , 000 $ 34 , 000 $ 32 , 000 Standard deviation $ 21 , 000 $ 17 , 000 $ 16 , 000 $ 14 , 000 $ 11 , 000

Question

Want to see the full answer?

Answer 1

Question

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Chapter 8.4, Problem 56E

To determine

The country with smallest gap between rich and poor out of five countries if a rich household family is one whose income after paying the tax is at least 1.3 standard deviation above the mean and a poor household family is one whose income after paying the tax is at least 1.3 standard deviation below the mean. The normal distribution of household incomes includes the mean income and its standard deviation in the year 1995.

Country United States Canada Switzerland Germany Sweden

Mean household Income $38,000 $35,000 $39,000 $34,000 $32,000

Standard deviation $21,000 $17,000 $16,000 $14,000 $11,000

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

eliminate the parameter to find the cartesian equation of the curve and sketch the graph. On the graph show the direction it takes and the initial and terminal point. Please draw by hand and show how you got to each step

The diagram below models the layout at a carnival where G, R, P, C, B, and E are various locations on the grounds. GRPC is a parallelogram. Part A: Identify a pair of similar triangles. Part B: Explain how you know the triangles from Part A are similar. Part C: Find the distance from B to E and from P to E. Show your work.

Answer 2

Question

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Chapter 8.4, Problem 56E

To determine

The country with smallest gap between rich and poor out of five countries if a rich household family is one whose income after paying the tax is at least 1.3 standard deviation above the mean and a poor household family is one whose income after paying the tax is at least 1.3 standard deviation below the mean. The normal distribution of household incomes includes the mean income and its standard deviation in the year 1995.

Country United States Canada Switzerland Germany Sweden

Mean household Income $38,000 $35,000 $39,000 $34,000 $32,000

Standard deviation $21,000 $17,000 $16,000 $14,000 $11,000

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Chapter 8.4, Problem 56E

To determine

The country with smallest gap between rich and poor out of five countries if a rich household family is one whose income after paying the tax is at least 1.3 standard deviation above the mean and a poor household family is one whose income after paying the tax is at least 1.3 standard deviation below the mean. The normal distribution of household incomes includes the mean income and its standard deviation in the year 1995.

Country United States Canada Switzerland Germany Sweden

Mean household Income $38,000 $35,000 $39,000 $34,000 $32,000

Standard deviation $21,000 $17,000 $16,000 $14,000 $11,000

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Chapter 8.4, Problem 56E

To determine

The country with smallest gap between rich and poor out of five countries if a rich household family is one whose income after paying the tax is at least 1.3 standard deviation above the mean and a poor household family is one whose income after paying the tax is at least 1.3 standard deviation below the mean. The normal distribution of household incomes includes the mean income and its standard deviation in the year 1995.

Country United States Canada Switzerland Germany Sweden

Mean household Income $38,000 $35,000 $39,000 $34,000 $32,000

Standard deviation $21,000 $17,000 $16,000 $14,000 $11,000

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 8.4, Problem 56E

To determine

The country with smallest gap between rich and poor out of five countries if a rich household family is one whose income after paying the tax is at least 1.3 standard deviation above the mean and a poor household family is one whose income after paying the tax is at least 1.3 standard deviation below the mean. The normal distribution of household incomes includes the mean income and its standard deviation in the year 1995.

Country United States Canada Switzerland Germany Sweden

Mean household Income $38,000 $35,000 $39,000 $34,000 $32,000

Standard deviation $21,000 $17,000 $16,000 $14,000 $11,000

Answer 6

Chapter 8.4, Problem 56E

To determine

The country with smallest gap between rich and poor out of five countries if a rich household family is one whose income after paying the tax is at least 1.3 standard deviation above the mean and a poor household family is one whose income after paying the tax is at least 1.3 standard deviation below the mean. The normal distribution of household incomes includes the mean income and its standard deviation in the year 1995.

Country United States Canada Switzerland Germany Sweden

Mean household Income $38,000 $35,000 $39,000 $34,000 $32,000

Standard deviation $21,000 $17,000 $16,000 $14,000 $11,000

Answer 7

Chapter 8.4, Problem 56E

To determine

The country with smallest gap between rich and poor out of five countries if a rich household family is one whose income after paying the tax is at least 1.3 standard deviation above the mean and a poor household family is one whose income after paying the tax is at least 1.3 standard deviation below the mean. The normal distribution of household incomes includes the mean income and its standard deviation in the year 1995.

Country United States Canada Switzerland Germany Sweden

Mean household Income $38,000 $35,000 $39,000 $34,000 $32,000

Standard deviation $21,000 $17,000 $16,000 $14,000 $11,000

Answer 8

Expert Solution & Answer

Answer 9

Expert Solution & Answer

Answer 10

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 11

Ch. 8.1 - In Exercises 110, classify the random variable X...Ch. 8.1 - Prob. 2E Ch. 8.1 - Prob. 3E Ch. 8.1 - In Exercises 110, classify the random variable X...Ch. 8.1 - In Exercises 110, classify the random variable X...Ch. 8.1 - Prob. 6E Ch. 8.1 - In Exercises 110, classify the random variable X...Ch. 8.1 - Prob. 8E Ch. 8.1 - Prob. 9E Ch. 8.1 - In Exercises 110, classify the random variable X...

Solution Summary: The author analyzes the gap between the rich and the poor in the United States.

Concept explainers

Videos

Want to see the full answer?

Chapter 8 Solutions

Country	United States	Canada	Switzerland	Germany	Sweden
Mean household Income	$38,000	$35,000	$39,000	$34,000	$32,000
Standard deviation	$21,000	$17,000	$16,000	$14,000	$11,000