The incomes of all families in a particular suburb can
The incomes of all families in a particular suburb can be represented by a continuous random variable. It is known that the median income for all families in this suburb is $60,000 and that 40% of all families in the suburb have incomes above $72,000.
a. For a randomly chosen family, what is the probability that its income will be between $60,000 and $72,000?
b. Given no further information, what can be said about the probability that a randomly chosen family has an income below $65,000?
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