5.7 The incomes of all families in a particular suburb can be represented by a continuous random...

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5.7 The incomes of all families in a particular suburb can be represented by a continuous random variable. It is known that the median income for all families in this suburb is $60,000 and that 40%

of all families in the suburb have incomes above

$72,000.

a. For a randomly chosen family, what is the probability that its income will be between $60,000 and

$72,000?

b. Given no further information, what can be said about the probability that a randomly chosen family has an income below $65,000?

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Statistics For Business And Economics

ISBN: 9780273767060

8th Global Edition

Authors: Paul Newbold, Mr William Carlson, Ms Betty Thorne

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