What is the income distribution of super shoppers? A supermarket super shopper is defined as a shopper for whom at least 70% of the items purchased were on sale or purchased with a coupon. In the following table, income units are in thousands of dollars, and each interval goes up to but does not include the given high value. The midpoints are given to the nearest thousand dollars. Income range 5-15 15-25 25-35 35-45 45-55 55 or more Midpoint x 10 20 30 40 50 60 Percent of super shoppers 22% 13% 21% 17% 20% 7% (a) Using the income midpoints x and the percent of super shoppers, do we have a valid probability distribution? Explain. Yes. The events are distinct and the probabilities sum to 1.Yes. The events are distinct and the probabilities do not sum to 1. No. The events are indistinct and the probabilities sum to 1.Yes. The events are indistinct and the probabilities sum to less than 1.No. The events are indistinct and the probabilities sum to more than 1. (b) Use a histogram to graph the probability distribution of part (a). (Select the correct graph.) (c) Compute the expected income ? of a super shopper (in thousands of dollars). (Enter a number. Round your answer to two decimal places.) ? = thousands of dollars (d) Compute the standard deviation ? for the income of super shoppers (in thousands of dollars). (Enter a number. Round your answer to two decimal places.) ? = thousands of dollars

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Description: What is the income distribution of super shoppers? A supermarket super shopper is defined as a shopper for whom at least 70% of the items purchased were on sale or purchased with a coupon. In the following table, income units are in thousands of doll

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter4: Polynomial And Rational Functions

Section4.6: Rational Functions

Problem 87E

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Income range	5-15	15-25	25-35	35-45	45-55	55 or more
Midpoint x	10	20	30	40	50	60
Percent of super shoppers	22%	13%	21%	17%	20%	7%

(a)

Using the income midpoints x and the percent of super shoppers, do we have a valid probability distribution? Explain.

Yes. The events are distinct and the probabilities sum to 1.Yes. The events are distinct and the probabilities do not sum to 1. No. The events are indistinct and the probabilities sum to 1.Yes. The events are indistinct and the probabilities sum to less than 1.No. The events are indistinct and the probabilities sum to more than 1.

(b)

Use a histogram to graph the probability distribution of part (a). (Select the correct graph.)

(c)

Compute the expected income ? of a super shopper (in thousands of dollars). (Enter a number. Round your answer to two decimal places.)
? = thousands of dollars

(d)

Compute the standard deviation ? for the income of super shoppers (in thousands of dollars). (Enter a number. Round your answer to two decimal places.)
? = thousands of dollars

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