According to Money magazine, Maryland had the highest median annual household income of any state in 2018 at $75,847 (Time.com website). Assume that annual household income in Maryland follows a...

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According to Money magazine, Maryland had the highest median annual household income of any state in 2018 at $75,847 (Time.com website).<br>Assume that annual household income in Maryland follows a normal distribution with a median of $75,847 and standard deviation of $33,800.<br>a. What is the probability that a household in Maryland has an annual income of $100,000 or more (to 4 decimals)?<br>b. What is the probability that a household in Maryland has an annual income of $40,000 or less (to 4 decimals)?<br>c. What is the probability that a household in Maryland has an annual income between $50,000 and $70,000 (to 4 decimals)?<br>d. What is the annual income of a household in the 90th percentile of annual household income in Maryland (to the nearest dollar)?<br>$4<br>

Extracted text: According to Money magazine, Maryland had the highest median annual household income of any state in 2018 at $75,847 (Time.com website). Assume that annual household income in Maryland follows a normal distribution with a median of $75,847 and standard deviation of $33,800. a. What is the probability that a household in Maryland has an annual income of $100,000 or more (to 4 decimals)? b. What is the probability that a household in Maryland has an annual income of $40,000 or less (to 4 decimals)? c. What is the probability that a household in Maryland has an annual income between $50,000 and $70,000 (to 4 decimals)? d. What is the annual income of a household in the 90th percentile of annual household income in Maryland (to the nearest dollar)? $4

Jun 04, 2022
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