Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In an impoverished urban area, individual income is normally distributed with a mean of $21,000 and a standard deviation of $2,000. Use Excel to

In an impoverished urban area, individual income is normally distributed with a mean of $21,000 and a standard deviation of $2,000. Use Excel to answer the following questions. What percentage of incomes fall a. below $17,000? c. between $17,000 and $25,000? d. what is an individual's income to be in the top 20%? b. above $23,000? Between what two X values (symmetrically distributed around the mean) are fifty percent. of the values? f. what is the z-score associated with an income of $12,500? g. what is the z-score associated with an income of $32,000? h. referring to f and g, which income do you consider more unusual? Explain. e.

Step by Step Solution

3.49 Rating (156 Votes )

There are 3 Steps involved in it

Step: 1

Normal Probabilities Common Data Mean 21000 Standard ... 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

Step: 3

blur-text-image

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

Statistics For Business And Economics

Authors: Paul Newbold, William Carlson, Betty Thorne

8th Edition

0132745658, 978-0132745659

More Books

Students also viewed these Mathematics questions

Question

Will you be able to pay your bills?

Answered: 1 week ago