Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You may need to use the appropriate appendix table to answer this question. According to Money magazine, Maryland had the highest median annual household income

image text in transcribed
You may need to use the appropriate appendix table to answer this question. According to Money magazine, Maryland had the highest median annual household income of any state in 2016 at $75,847.+ Assume that annual household income in Maryland follows a normal distribution with a median of $75,847 and standard deviation of $33,800. (a) What is the probability that a household in Maryland has an annual income of $90,000 or more? (Round your answer to four decimal places.) (b) What is the probability that a household in Maryland has an annual income of $50,000 or less? (Round your answer to four decimal places.) (c) What is the probability that a household in Maryland has an annual income between $40,000 and $70,0007 (Round your answer to four decimal places.) (d) What is the annual income (in $) of a household in the eighty-sixth percentile of annual household income in Maryland? ( Round your answer to the nearest cent.)

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_2

Step: 3

blur-text-image_3

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

Algebra Form And Function

Authors: William G McCallum, Eric Connally, Deborah Hughes Hallett

2nd Edition

1119032091, 9781119032090

More Books

Students also viewed these Mathematics questions

Question

mple 10. Determine d dx S 0 t dt.

Answered: 1 week ago