Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

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 $55,000 and that 30% of all families in the suburb have incomes above $67,000.

Answer parts (a) and (b).

11(a). For a randomly chosen family, what is the probability that its income will be between $55,000 and $67,000? Enter your probability as a decimal.

11(b). Given no further information, what can be said about the probability that a randomly chosen family has an income below $60,000?

a.)P(X<60,000) < 0.3

b.) P(X<60,000) < 0.5

c.) 0.3 < P(X<60,000) < 0.5

d.) 0.5 < P(X<60,000) < 0.7

e.) P(X<60,000) > 0.7

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

Step: 3

blur-text-image

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

College Algebra

Authors: Michael Sullivan

10th Edition

0321999428, 9780321999429

More Books

Students also viewed these Mathematics questions

Question

Why is IT planning so important?

Answered: 1 week ago

Question

What reward will you give yourself when you achieve this?

Answered: 1 week ago