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Suppose the household incomes for Kamloops are normally distributed with mean $62,000 and standard deviation $6,800. a) If 50 households are randomly selected, find the
Suppose the household incomes for Kamloops are normally distributed with mean $62,000 and standard deviation $6,800.
a) If 50 households are randomly selected, find the probability that their mean household income is below $64,000.
b) If households with the bottom 20% of incomes qualify for a special tax cut, what is the maximum income required to qualify for the tax cut?
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