If we model after-tax household income with a normal distribution, then the figures of a study imply the information in the following table. Assume that the distribution of Incomes in each country is normal. Country Country A Country B Country C Country D Country E Mean Household Income $11,000 $40,000 $13,000 $12,000 $34,000 Standard Deviation $15,000 $38,000 $17,000 $39,000 $12,000 What percentage of households in Country E are either very wealthy (income at least $95,000) or very poor (income at most $12,000)? (Round your answer to the nearest percent.) × % 100

If we model after-tax household income with a normal distribution, then the figures of a study imply the information in the following table. Assume that the distribution of Incomes in each country is normal. Country Country A Country B Country C Country D Country E Mean Household Income $11,000 $40,000 $13,000 $12,000 $34,000 Standard Deviation $15,000 $38,000 $17,000 $39,000 $12,000 What percentage of households in Country E are either very wealthy (income at least $95,000) or very poor (income at most $12,000)? (Round your answer to the nearest percent.) × % 100

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter2: Mathematics For Microeconomics

Section: Chapter Questions

Problem 2.15P

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