Question: Census data are often used to obtain probability distributions for various random variables. Census data for families in a particular state with a combined income

Census data are often used to obtain probability distributions for various random variables. Census data for families in a particular state with a combined income of $50,000 or more show that 20% of these families have no children, 30% have one child, 40% have two children, and 10% have three children. From this information, construct the probability for x, where x represents the number of children per family for this income group.

Step by Step Solution

★★★★★

3.44 Rating (167 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

x 0 1 2 3 Px 020 030 040 01... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

519-S-J-P-D (403).docx

120 KBs Word File

Students Have Also Explored These Related Statistics Questions!

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...

The average teachers salary in a particular state is $54,166. If the standard deviation is $10,200, find the salaries corresponding to the following z scores. a. 2 b. 1 c. 0 d. 2.5 e. 1.6

The following terms are often used to describe leases: a. Direct b. Full-service c. Operating d. Financial e. Rental f. Net g. Leveraged h. Sale and lease-back i. Full-payout Match one or more of...

Express the tossing of one coin as a probability distribution of x, the number of heads occurring (that is, x = 1 if a head occurs and X = 0 if a tail occurs). (Give your answers correct to one...

NOTHER Census data are often used to obtain probability distributions for various random variables. Census data for families in a particular state with a combined income of $50,000 or more show that...

Would you be able to put together another monthly cash flow analysis, this time for year 1? INCOME STATEMENT Year 1 269,115.00 48,930.00 20,388.00 338,433.00 $ $ $ $ COGS $ 113,940.00 $ 125,940.00 $...

Create an annotated bibliography from the three core readings (provided); ? Each annotation (summary & comment) should be approximately 300 words (per reading); ? Each annotation should include a...

Possible Multiple Choice Questions for the Exam. Focus on the topics discussed in class. Chapter 1 Multiple Choice Identify the choice that best completes the statement or answers the question. ____...

Submitted to Management Science manuscript MS-0001-1922.65 Authors are encouraged to submit new papers to INFORMS journals by means of a style file template, which includes the journal title....

Someone once said that TQM is like paving cow paths. What do you suppose this means in relation to reengineering?

Predict a possible monatomic ion for Element 117, Uus. Given the spherical models below, which should be labeled atom and which should be labeled ion?

E6-44B Sustainability and cost estimation (Learning Objective 2) Solar Entertainment is a provider of cable, Internet, and on-demand video services. Solar currently sends monthly bills to its...

Generate, use, and convert numerical data to visual aids, and create meaningful and attractive graphics.

Refer to Exercise 3.99. In exercise Chebychevs rule also permits you to make pertinent statements about a data set when only its mean and standard deviation are known. Here is an example of that use...

We have provided simple data sets for you to practice the basics of finding measures of center. For each data set, determine the a. Mean. b. Median. c. Mode(s). 1, 2, 4, 4

Identify a use of the lower and upper limits.

Kidder Corporation's balance sheet shows an historical book value for long-term debt (bonds, at par) of $23,500,000. The bonds have an 6.4% coupon rate, payable semiannually, and a par value of...

Question 1 Shinoda Corp, has 9.34 percent coupon bonds making annual payments with a YTM of 6.71 percent. The current yield on these bonds is 7.63 percent. How many years do these bonds have left...

Best Co. has 100 million common shares outstanding currently selling for $40/share. It has a dividend yield of 3% (hint: dividend yield is calculated as dividends paid in the last 12 months divided...