The mean household income in a country in a recent year was about $69,762 and the standard deviation was about $85,000. (The median income was $55,148.)

a) If a Normal model was used for theseincomes, what would be the household income of the top 5%?

b) How confident should one be in the answer in parta?

c) Why might the Normal model not be a good one forincomes?