Let P(x) be the cumulative distribution function for the household income distribution in the US in 2009.

Question:

Let P(x) be the cumulative distribution function for the household income distribution in the US in 2009. Values of P(x) are in the following table:

(a) What percent of the households made between $40,000 and $60,000? More than $100,000?
(b) Approximately what was the median income?
(c) Is the statement “More than one-third of households made between $40,000 and $75,000" true or false?

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Applied Calculus

ISBN: 9781119275565

6th Edition

Authors: Deborah Hughes Hallett, Patti Frazer Lock, Andrew M. Gleason, Daniel E. Flath, Sheldon P. Gordon, David O. Lomen, David Lovelock, William G. McCallum, Brad G. Osgood, Andrew Pasquale

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Question Posted: Apr 04, 2023 01:05 AM

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Let P(x) be the cumulative distribution function for the household income distribution in the US in 2009.

Question:

Income x (thousand $) P(x) (%) 20 40 60 75 100 29.5 50.1 66.8 76.2 87.1

Step by Step Answer:

a Since P is the cumulative distribution function the percentage of households that made between ...View the full answer

Applied Calculus

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