FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

11. The income of a group of 10000 persons was found to be normally distributed with mean Rs. 1750 pm. and standard deviation Rs. 50.

image text in transcribed
11. The income of a group of 10000 persons was found to be normally distributed with mean Rs. 1750 pm. and standard deviation Rs. 50. Show that of this group 95% had income exceeding Rs. 1668 and only 5 \"/6 had income exceeding Rs. 1832. Also nd the lowest income among the richest 100

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Contemporary Business Mathematics With Canadian Applications

Contemporary Business Mathematics With Canadian Applications

Authors: Ali R. Hassanlou, S. A. Hummelbrunner, Kelly Halliday

12th Edition

0135285011, 978-0135285015

More Books

Students also viewed these Mathematics questions

Question

★★★★★
Game theory assumes that to compute the likely outcome of games, one need to assume that players act Select one: a. Rationally b. In their own self-interest c. Optimally d. All the above

Answered: 1 week ago

Question

★★★★★
Carla Vista Co. reports the following information: Net income $749000 Dividends on common stock $205000 Dividends on preferred stock $100000 Weighted average common shares outstanding 250000 Carla...

Answered: 1 week ago

Question

★★★★★
=+What should happen if the service provider fails to meet these requirements?

Answered: 1 week ago

Question

★★★★★
Carr, Inc., has the following plant asset accounts: Land, Buildings, and Equipment, with a separate accumulated depreciation account for each of these except land. Carr completed the following...

Answered: 1 week ago

Question

★★★★★
11. The income of a group of 10000 persons was found to be normally distributed with mean Rs. 1750 pm. and standard deviation Rs. 50. Show that of this group 95% had income exceeding Rs. 1668 and...

Answered: 1 week ago

Question

★★★★★
Suppose a random variable, x, arises from a binomial experiement. If n = 22 and p=0.85, find the following probabilities using the binomial formula a) P (x=18) b) P(x /=18)

Answered: 1 week ago

Question

★★★★★
Rita owns a sole proprietorship in which she works as a management consultant. She maintains an office in her home (500 square feet) where she meets with clients, prepares bills, and performs other...

Answered: 1 week ago

Question

★★★★★
Consider two neighbouring island countries called Arcadia and Euphoria. They each have 4 million labour hours available per week that they can use to produce jeans, corn, or a combination of both....

Answered: 1 week ago

Question

★★★★★
On February 11, 20Y9, Quick Fix Company purchased $4,190 of supplies on account. In Quick Fix's chart of accounts, the supplies account is No. 15, and the accounts payable account is No. 21. a....

Answered: 1 week ago

Question

★★★★★
Cost of Units Completed and in Process The charges to Work in ProcessAssembly Department for a period, together with information concerning production, are as follows. All direct materials are placed...

Answered: 1 week ago

Question

★★★★★
Michael has decided to invest $40,000 in three types of funds. Fund A has projected an annual return of 8 percent, Fund B has projected an annual return of 10 percent, and Fund C has projected an...

Answered: 1 week ago

Previous Question Next Question