Question
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
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