Suppose that the annual household income in a small Midwestern community is normally distributed with a mean of $55,000 and a standard deviation of $4,500. a.What is the probability that a randomly...

Suppose that the annual household income in a small Midwestern community is normally distributed with a mean of $55,000 and a standard deviation of $4,500. a.What is the probability that a randomly selected household will have an income between $50,000 and $65,000? b.What is the probability that a randomly selected household will have an income of more than $70,000? c. What minimum income does a household need to earn to be in the top 5% of incomes?

Jun 08, 2022
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