Question: Activity 2.4 - Summary Exercise * - M ( 9) Attempt the following question without the use of Excel. Based on earlier studies, the household

Activity 2.4 - Summary Exercise * - M ( 9) Attempt

Activity 2.4 - Summary Exercise * - M ( 9) Attempt the following question without the use of Excel. Based on earlier studies, the household income in a certain city can be assumed to be normally distributed with mean $74,000 and standard deviation $3,500. ( b]/ 7 = X - M a) If a household is randomly selected, What is the probability that the household income is more than $75,000? - What is the probability that the household income is between $72,350 and $75, 125? - If 20% of the households have an income above a certain value V, find the value of V. b) Ten households were randomly selected for interview. What is the probability that the mean household income is between $71,000 and $75,500

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