Question: Hello, I am stumped on this question, can you please help? There are graphs in the question but the site here will not let me
Hello,
I am stumped on this question, can you please help? There are graphs in the question but the site here will not let me paste them for some reason. Maybe you can figure it out.
Thank you!
Question:
What is the income distribution of super shoppers? Asupermarket super shopperis defined as a shopper for whom at least 70% of the items purchased were on sale or purchased with a coupon. In the following table, income units are in thousands of dollars, and each interval goes up to but does not include the given high value. The midpoints are given to the nearest thousand dollars. Income range 5-15 15-25 25-35 35-45 45-55 55 or more Midpointx102030405060 Percent of super shoppers 20% 15% 20% 17% 19% 9%
(a)Using the income midpointsxand the percent of super shoppers, do we have a valid probability distribution? Explain.
Yes. The events are indistinct and the probabilities sum to less than 1.
Yes. The events are distinct and the probabilities do not sum to 1.
No. The events are indistinct and the probabilities sum to more than 1.
Yes. The events are distinct and the probabilities sum to 1.
No. The events are indistinct and the probabilities sum to 1.
(b)Use a histogram to graph the probability distribution of part (a). (Select the correct graph.)
(c)Compute the expected incomeof a super shopper (in thousands of dollars). (Enter a number. Round your answer to two decimal places.)
=
thousands of dollars
(d)Compute the standard deviationfor the income of super shoppers (in thousands of dollars). (Enter a number. Round your answer to two decimal places.)
=
thousands of dollars
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