The mean household income in the US in 2019 was about $89,930 and the standard deviation was about $85,000. (The median income was $59,039.) a) If a Normal model is used for these incomes, what would be the household income of the top 1%? b) How confident can you be in the answer in part a? c) Why might the Normal model not be a good one for incomes? a) The top 1% would have incomes greater than $ (Round to the nearest dollar as needed.) ...
The mean household income in the US in 2019 was about $89,930 and the standard deviation was about $85,000. (The median income was $59,039.) a) If a Normal model is used for these incomes, what would be the household income of the top 1%? b) How confident can you be in the answer in part a? c) Why might the Normal model not be a good one for incomes? a) The top 1% would have incomes greater than $ (Round to the nearest dollar as needed.) ...
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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