Question: Q1. Say we randomly sample 100 people from this data set. Let X be the number of people out of 100 that make over $50K.

Q1. Say we randomly sample 100 people from this data set. Let X be the number of people out of 100 that make over $50K. Assume the income of each person is undependent of any other person, and the probability of any randomly chosen person making $50K is fixed. Fill in the blanks: X follows a Binomial distribution with n= and p= ? Q2. Use the Binomial distribution you previously found to answer the following question: What is the probability of exactly 20 people earn over $50K Q3. Use the Binomial distribution you previously found to answer the following question: What is the probability of between 10 and 30 people, inclusive, earn over 50K? Q4. Use the Binomial distribution you previously found to answer the following question: What is the expected number of people, out of 100, earn over 50K?

Tally Income Count Percent 50K. 5984 23.94 N= 25000

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