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Question 5: Given a dataset that represents the annual income of a population in a certain city, and is normally distributed with a mean of
Question 5: Given a dataset that represents the annual income of a population in a certain city, and is normally distributed with a mean of and a standard deviation of : 1. Using the Empirical Rule, approximately what percentage of the incomes lie between 2 and +2 ? 2. It's known that 68% of the incomes lie between $40,000 and $60,000. Can we determine the values of and based on this information? If so, how? 3. An analyst claims that only 80% of the incomes fall within two standard deviations of the mean for this population. Is this consistent with the Empirical Rule? Explain
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