The Federal Reserve System publishes data on family income based on its Survey of Consumer Finances. When
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The Federal Reserve System publishes data on family income based on its Survey of Consumer Finances. When the head of the household has a college degree, the mean before-tax family income is $85,200. Suppose that 60% of the before-tax family incomes when the head of the household has a college degree are between $75,600 and $94,800 and that these incomes are normally distributed. What is the standard deviation of before-tax family incomes when the head of the household has a college degree?
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Related Book For
Business Statistics for Contemporary Decision Making
ISBN: 978-0470910184
6th Edition
Authors: Ken Black
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