3,050. The approximate percentile ranking for household income for this household is

MATLAB: An Introduction with Applications
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Household incomes in a certain state have mean $53,550 and a standard deviation $3,750 and the
incomes follow a normal distribution. A randomly selected household from this state has an
income of $58,050. The approximate percentile ranking for household income for this household is
O 11.5%
38.5%
84.6%
88.5%
Transcribed Image Text:Household incomes in a certain state have mean $53,550 and a standard deviation $3,750 and the incomes follow a normal distribution. A randomly selected household from this state has an income of $58,050. The approximate percentile ranking for household income for this household is O 11.5% 38.5% 84.6% 88.5%
Expert Solution
Step 1

Given,

Mean, μ = 53550

Std deviation, σ = 3750

x = 58050

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