Question
Disposable household income over all Australia in 2005-06 follows the normal distribution with the mean $640 per week and the standard deviation $160 per week.
Disposable household income over all Australia in 2005-06 follows the normal distribution with the mean $640 per week and the standard deviation $160 per week.
a)Almost all disposable household incomes were between what values?
b)The middle 50% of disposable household incomes was between what values?
c)What is the probability of a household having an income of $820 per week or more?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Statistical Techniques in Business and Economics
Authors: Douglas A. Lind, William G Marchal
17th edition
1259666360, 978-1259666360
