- The Mean Household Income In A Country In A Recent Year Was About 72 550 And The Standard Deviation Was About 87 000 1 (33.86 KiB) Viewed 119 times
The mean household income in a country in a recent year was about $72,550 and the standard deviation was about $87,000.
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The mean household income in a country in a recent year was about $72,550 and the standard deviation was about $87,000.
The mean household income in a country in a recent year was about $72,550 and the standard deviation was about $87,000. (The median income was $49.239.) a) If a Normal model was used for these incomes, what would be the household income of the top 2%? b) How confident should one be in the answer in part a? c) Why might the Normal model not be a good one for incomes? a) The income would be $ (Round to the nearest dollar as needed.)