< The mean household income in the US in 2019 was about $89,930 and the standard...
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< The mean household income in the US in 2019 was about $89,930 and the standard deviation was about $85,000. (The median income was $59,039.) a) If a Normal model is used for these incomes, what would be the household income of the top 3%? b) How confident can you be in the answer in part a? c) Why might the Normal model not be a good one for incomes? < The mean household income in the US in 2019 was about $89,930 and the standard deviation was about $85,000. (The median income was $59,039.) a) If a Normal model is used for these incomes, what would be the household income of the top 3%? b) How confident can you be in the answer in part a? c) Why might the Normal model not be a good one for incomes?
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