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 7%? b) How confident can you be in the answer in part a? a) The top 7% would have incomes greater than $ (Round to the nearest dollar as needed.)
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- Large companies typically collect volumes of data before designing a product, not only to gain information as to whether the product should be released, but also to pinpoint which markets would be the best targets for the product. Several months ago, I was interviewed by such a company while shopping at a mall. I was asked about my exercise habits and whether or not I'd be interested in buying a video/DVD designed to teach stretching exercises. I fall into the male, 18 – 35-years-old category, and I guessed that, like me, many males in that category would not be interested in a stretching video. My friend Diane falls in the female, older-than-35 category, and I was thinking that she might like the stretching video. After being interviewed, I looked at the interviewer's results. Of the 93 people in my market category who had been interviewed, 17 said they would buy the product, and of the 113 people in Diane's market category, 34 said they would buy it. Assuming that these data came…Large companies typically collect volumes of data before designing a product, not only to gain information as to whether the product should be released, but also to pinpoint which markets would be the best targets for the product. Several months ago, I was interviewed by such a company while shopping at a mall. I was asked about my exercise habits and whether or not I'd be interested in buying a video/DVD designed to teach stretching exercises. I fall into the male, 18 – 35-years-old category, and I guessed that, like me, many males in that category would not be interested in a stretching video. My friend Amanda falls in the female, older-than-35 category, and I was thinking that she might like the stretching video. After being interviewed, I looked at the interviewer's results. Of the 97 people in my market category who had been interviewed, 16 said they would buy the product, and of the 101 people in Amanda's market category, 31 said they would buy it. Assuming that these data came…Large companies typically collect volumes of data before designing a product, not only to gain information as to whether the product should be released, but also to pinpoint which markets would be the best targets for the product. Several months ago, I was interviewed by such a company while shopping at a mall. I was asked about my exercise habits and whether or not I'd be interested in buying a video/DVD designed to teach stretching exercises. I fall into the male, 18-35-years-old category, and I guessed that, like me, many males in that category would not be interested in a stretching video. My friend Holly falls in the female, older-than-35 category, and I was thinking that she might like the stretching video. After being interviewed, I looked at the interviewer's results. Of the 89 people in my market category who had been interviewed, 20 said they would buy the product, and of the 103 people in Holly's market category, 28 said they would buy it. Assuming that these…
- Because of safety considerations, in May 2003 the Federal Aviation Administration (FAA) changed its guidelines for how small commuter airlines must estimate passenger weights. Under the old rule, airlines used 180 pounds as a typical passenger weight (including carry-on luggage) in warm months and 185 pounds as a typical weight in cold months. A journal reported that an airline conducted a study to estimate average passenger plus carry-on weights. They found an average summer weight of 183 pounds and a winter average of 190 pounds. Suppose that each of these estimates was based on a random sample of 100 passengers and that the sample standard deviations were 15 pounds for the summer weights and 21 pounds for the winter weights. (a) Construct a 95% confidence interval for the mean summer weight (including carry-on luggage) of this airline's passengers. (Use technology to calculate the critical value. Round your answers to three decimal places.) ( , )…An agent for a property management company would like to be able to predict the monthly rental cost for apartments based on the size of the apartment as defined by square footage. A sample of the rent of 25 apartments in a college rental neighborhood was selected, and the information collected revealed the following: Apartment Size (Sq. Ft.) Monthly Rent ($) 1 850 950 2 1,450 1,600 3 1,085 1,200 4 1,232 1,500 5 718 950 6 1,485 1,700 7 1,136 1,650 8 726 935 9 700 875 10 956 1,150 11 1,100 1,400 12 1,285 1,650 13 1,985 2,300 14 1,369 1,800 15 1,175 1,400 16 1,225 1,450 17 1,245 1,100 18 1,259 1,700 19 1,150 1,200 20 896 1,150 21 1,361 1,600 22 1,040 1,650 23 755 1,200 24 1,000 800 25 1,200 1,750 e) Determine the coefficient of determination r2 and then completely interpret…An agent for a property management company would like to be able to predict the monthly rental cost for apartments based on the size of the apartment as defined by square footage. A sample of the rent of 25 apartments in a college rental neighborhood was selected, and the information collected revealed the following: Apartment Size (Sq. Ft.) Monthly Rent ($) 1 850 950 2 1,450 1,600 3 1,085 1,200 4 1,232 1,500 5 718 950 6 1,485 1,700 7 1,136 1,650 8 726 935 9 700 875 10 956 1,150 11 1,100 1,400 12 1,285 1,650 13 1,985 2,300 14 1,369 1,800 15 1,175 1,400 16 1,225 1,450 17 1,245 1,100 18 1,259 1,700 19 1,150 1,200 20 896 1,150 21 1,361 1,600 22 1,040 1,650 23 755 1,200 24 1,000 800 25 1,200 1,750 i) Determine a 95% interval estimate for the average rent of apartments with 1000…
- A glass manufacturing company wanted to investigate the effect of breakoff pressure and stopper height on the percentage of breaking off chips. The results are in the accompanying table. Complete parts (a) through (e). a. At the 0.01 level of significance is there an interaction between the breakoff pressure and the stopper height? b. is there an effect due to the breakoff pressure? c. is there an effect due to the stopper height? d. Plot the percentage breakoff for each breakoff pressure for each stopper height. e. Discuss the results of (a) through (d).Given the following data, compute to know who has a more consistent score (Student A or Student B)? And Why do say that they have a more consistent score?In a poll, 51%of the people polled answered yes to the question "Are you in favor of the death penalty for a person convicted of murder?" The margin of error in the poll was 55%, and the estimate was made with 95% confidence. At least how many people were surveyed? Part 1 The minimum number of surveyed people was what? (Round up to the nearest integer.)
- Which model—the one for parliaments or the one for ministries (or cabinets)—presented in the article has the greater explanatory power? How can you tell?According to the February 2008 Federal Trade Commission report on consumer fraud and identity theft, 23% of all complaints in 2007 were for identity theft. In that year, Alaska had 321 complaints of identity theft out of 1,432 consumer complaints ("Consumer fraud and," 2008). Does this data provide enough evidence to show that Alaska had a lower proportion of identity theft than 23%? Test at the 5% level. (v) Do values for np and nq both exceed 5? Enter YES or NO for answer (vi) Calculate and enter test statistic Enter value in decimal form rounded to nearest thousandth, with appropriate sign (no spaces). Examples of correctly entered answers: –2.014 –0.370 +0.600 +1.009 (vii) Using tables, calculator, or spreadsheet: Determine and enter p-value corresponding to test statistic. Enter value in decimal form rounded to nearest thousandth. Examples of correctly entered answers: 0.000 0.001 0.030 0.600 0.814 1.000The solutions are not clearly showing on my end. what exactly is the P value and test statistic?
