Concept explainers
Distribution of Wealth If we model after-tax household income by a
Country | United States | Canada | Switzerland | Germany | Sweden |
Mean Household Income | $38,000 | $35,000 | $39,000 | $34,000 | $32,000 |
Standard Deviation | $21,000 | $17,000 | $16,000 | $14,000 | $11,000 |
If we define a “poor” household as one whose after-tax income is at least 1.3 standard deviations below the mean, what is the household income of a poor family in Switzerland?
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