Statistics Canada reports that the average annual family income in Regina is $81,832. Suppose annual family income

Question:

Statistics Canada reports that the average annual family income in Regina is $81,832. Suppose annual family income in Regina is normally distributed, with a standard deviation of $7,712. A Regina family is randomly selected.

a. What is the probability that the family’s income is more than $90,700?

b. What is the probability that the family’s income is less than $72,500?

c. What is the probability that the family’s income is more than $63,500?

d. What is the probability that the family’s income is between $70,800 and $85,600?

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To solve these probability questions we will use the standard normal distribution and the Zscore formula The Zscore is calculated as Z X where X is the value we want to find the probability for is the mean of the distribution is the standard deviation of the distribution a To find the probability that the familys income is more than 90700 we need to calculate the Zscore for ...View the full answer

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