Question
The U.S. Federal Reserve System publishes data on family income based on its Survey of Consumer Finances. When the head of the household has a
The U.S. Federal Reserve System publishes data on family income based on its Survey of Consumer Finances. When the head of the household has a university degree, the mean pre-tax family income is $ 85,750. Suppose that 64% of the pre-tax family incomes when the head of the household has a university degree are between $ 76,500and $ 95,000and that these incomes are normally distributed. What is the standard deviation of pre-tax family incomes when the head of the household has a university degree? (Round the value of z to 2 decimal places, e.g. 0.75. Round your answer to 2 decimal places, e.g. 125.75.)
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