Explanation Consider an example of the distribution of household incomes ( X ) for 1 , 000 households with incomes up to $ 100 , 000 in the year 2010 , Income Bracket ( $ ) 0 − 19 , 999 20 , 000 − 39 , 999 40 , 000 − 59 , 999 60 , 000 − 79 , 999 80 , 000 − 99 , 999 Households 240 290 180 170 120 Calculate the rounded midpoints for the class 0 − 19 , 999 using the formula, x = Lower limit + Upper limit 2 x = 0+19999 2 = 19999 2 = 9999.5 ≈ 10000 Calculate the rounded midpoints for the class 20 , 000 − 39 , 999 using the formula, x = Lower limit + Upper limit 2 x = 20000+39999 2 = 59999 2 = 29999.5 ≈ 30000 Calculate the midpoints for remaining classes in the same form. The midpoints are: x 10 , 000 30 , 000 50 , 000 70 , 000 90 , 000 The number of households sampled was 1 , 000 . Then, total number of outcomes are 1 , 000 . Compute the probability for the income group 0 − 19 , 999 as follows: P ( X ) = Frequency of the class Total number of outcomes = 240 1000 = 0.24 Compute the probability for the income group 20 , 000 − 39 , 999 as follows: P ( X ) = Frequency of the class Total number of outcomes = 290 1000 = 0.29 Calculate the remaining probabilities in the similar form

Finite Mathematics and Application Calculus (Looseleaf) - Text Only

7th Edition

ISBN: 9781337291484

Author: Waner

Publisher: Cengage

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Chapter 9.3, Problem 73E

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Whether Sonia’s statement “The expected household income in the United States is the same as the population mean of all U.S. household incomes” is correct or not. Clarify using an example.

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Chapter 9.3, Problem 72E

Chapter 9.3, Problem 74E

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Chapter 9 Solutions

Finite Mathematics and Application Calculus (Looseleaf) - Text Only

Ch. 9.1 - In Exercises 110, classify the random variable X...Ch. 9.1 - Prob. 2E Ch. 9.1 - In Exercises 110, classify the random variable X...Ch. 9.1 - In Exercises 110, classify the random variable X...Ch. 9.1 - Prob. 5E Ch. 9.1 - In Exercises 110, classify the random variable X...Ch. 9.1 - Prob. 7E Ch. 9.1 - In Exercises 110, classify the random variable X...Ch. 9.1 - In Exercises 110, classify the random variable X...Ch. 9.1 - In Exercises 110, classify the random variable X...

Ch. 9.1 - Prob. 11E Ch. 9.1 - Prob. 12E Ch. 9.1 - Prob. 13E Ch. 9.1 - Prob. 14E Ch. 9.1 - In Exercises 1118, (a) say what an appropriate...Ch. 9.1 - Prob. 16E Ch. 9.1 - In Exercises 1118, (a) say what an appropriate...Ch. 9.1 - Prob. 18E Ch. 9.1 - Prob. 19E Ch. 9.1 - Prob. 20E Ch. 9.1 - Prob. 21E Ch. 9.1 - Prob. 22E Ch. 9.1 - In Exercises 2128, give the probability...Ch. 9.1 - Prob. 24E Ch. 9.1 - Prob. 25E Ch. 9.1 - Prob. 26E Ch. 9.1 - Prob. 27E Ch. 9.1 - Prob. 28E Ch. 9.1 - 2010 Income Distribution up to $100,000 The...Ch. 9.1 - 2003 Income Distribution up to $100,000 Repeat...Ch. 9.1 - Prob. 31E Ch. 9.1 - Prob. 32E Ch. 9.1 - Prob. 33E Ch. 9.1 - Housing Prices Going into the Real Estate Bubble...Ch. 9.1 - Prob. 35E Ch. 9.1 - Prob. 36E Ch. 9.1 - Prob. 37E Ch. 9.1 - Prob. 38E Ch. 9.1 - Car Purchases To persuade his parents to...Ch. 9.1 - Prob. 40E Ch. 9.1 - Prob. 41E Ch. 9.1 - Prob. 42E Ch. 9.1 - Prob. 43E Ch. 9.1 - Prob. 44E Ch. 9.1 - Prob. 45E Ch. 9.1 - Prob. 46E Ch. 9.1 - Prob. 47E Ch. 9.1 - 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Whether Sonia’s statement “The expected household income in the United States is the same as the population mean of all U.S. household incomes” is correct or not. Clarify using an example.

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Whether Sonia’s statement “The expected household income in the United States is the same as the population mean of all U.S. household incomes” is correct or not. Clarify using an example.

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Chapter 9 Solutions