The Federal Reserve System publishes data on family income based on its Survey of Consumer Finances. When the head of the household has a college degree, the mean before-tax family income is $ 85,050. Suppose that 56% of the before-tax family incomes when the head of the household has a college degree are between $75,000 and $95,100 and that these incomes are normally distributed. What is the standard deviation of before-tax family incomes when the head of the household has a college degree

Answers

Answer 1

Answer:

The standard deviation is $13,052.

Step-by-step explanation:

Normal Probability Distribution:

Problems of normal distributions can be solved using the z-score formula.

In a set with mean [tex]\mu[/tex] and standard deviation [tex]\sigma[/tex], the zscore of a measure X is given by:

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.

When the head of the household has a college degree, the mean before-tax family income is $ 85,050.

This means that [tex]\mu = 85,050[/tex]

Suppose that 56% of the before-tax family incomes when the head of the household has a college degree are between $75,000 and $95,100 and that these incomes are normally distributed.

They are equally as far from the mean, one above, and one below. This means that when [tex]X = 95100[/tex], Z has a pvalue of 0.5 + (0.56/2) = 0.78. So when X = 95100, Z = 0.77. We use this to find [tex]\sigma[/tex].

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

[tex]0.77 = \frac{95100 - 85050}{\sigma}[/tex]

[tex]0.77\sigma = 10050[/tex]

[tex]\sigma = \frac{10050}{0.77}[/tex]

[tex]\sigma = 13052[/tex]

The standard deviation is $13,052.


Related Questions

PLEASE HELP I DONT GET THIS ASAP! IS THIS 21??

Answers

it is 21 you’re right haha

Daniel is making cupcakes for a school bake sale. He wants to make 120 cupcakes. So far he has made 65% of them. How many more cupcakes does he need to make?

Answers

22
0.65*120=78
First divide 65 and 100 you will get 0.65.
Then just multiply your whole number.

A woman walks at a constant speed of 4.5 km per hr.How long will it take her to walk 10 km. using formula d=St how many hours and minutes​

Answers

Answer:

1 hour and about 15 minutes.

Step-by-step explanation:

because in an hour she walks 4.5 km. and 4.5•2=9 so just another km will be 10 so estimatly it'll be 1 hour and 15 minutes

2 hours 13 minutes 20 seconds

cost price of television is Rs 40000.The profit is 1/9 of selling price ,find the selling price .

Answers

Answer:

₹45000

Step-by-step explanation:

Let the selling price (SP) of the television be ₹x.

Therefore,

Profit [tex] =\frac{1}{9}x[/tex]

Cost price (CP) = ₹ 40000

[tex]Profit = SP - CP \\ \\ \frac{1}{9}x = x - 40000 \\ \\ \frac{x}{9} - x = - 40000 \\ \\ \frac{x - 9x}{9} = - 40000 \\ \\ - \frac{8}{9} x = - 40000 \\ \\ x = 40000 \times \frac{9}{8} \\ \\ x = 5000 \times 9 \\ \\ x = 45000[/tex]

HELP PLEASE I NEED HALP

Answers

Answer:

16

Step-by-step explanation:

8x2

What is the value of this expression? {18÷(2+4)}+3×2 Enter your answer in the box.

Answers

Answer:

The value of the expression is 78

Step-by-step explanation:

Answer:

Step-by-step explanation:

{18÷(2+4)}+3×2 = {18÷6}+3×2

= 3+3×2

= 3+6

= 9

A car travels 6 mile in 2 hours what is the unit rate
A 3 miles/ hour
B 1 mile/3 hour
C 3 /1 mile
D6 miles/ 1 hour

Answers

Answer:

A

Step-by-step explanation:

This is a fraction equal to

6 miles ÷ 2 hours

We want a unit rate where

1 is in the denominator,

so we divide top and bottom by 2

6 miles ÷ 2 2 hours ÷ 2= 3 miles1 hour= 3 miles hour = 3 miles per hour

i hope the internet knows how to do this i dont​

Answers

All the answers are in the picture attached.

There are 12 inches in 1 foot. Jada is working on improving her vertical jump. She records the measurements in feet and inches. Currently, her standing reach is 6 feet from the ground. The highest point of her jump is 108 inches.

How many inches are in 6 feet?
6 feet = 72 inches.

Complete the statement to describe how to convert feet to inches.
To find the number of inches, ? the number of feet by the unit rate, ? inches per foot.​

Answers

Answer:

To find out how any inches are in a certain amount of feet you have to multiply it by 12. For example 4 feet is equal to 48 inches. (4x12)

Step-by-step explanation:

Raelyn spent $6.00 on butterfly stickers for her bathroom wall. Each sticker cost 1/10 of a dollar. how many stickers did Raeyln but?From the same store,Beth biught 1/4 the number of butterfly stickers Raeyln bought.How many butterfly stickers did Beth buy?​

Answers

Answer:

Raeyln bought 60 stickers, Beth bought 15 stickers

Step-by-step explanation:

simple math l.mao

A rectangle with 8 cm width and 3 cm length What is the perimeter and area of the rectangle?​

Answers

Answer:

P=22cm

A=24cm²

Step-by-step explanation:

1. x²+2xy+y²
2. x²-8x+16
3. 16a⁴_24a²b²+9b​

Answers

Answer:

1.(x+y)²

2. (x-4)²

3. (4a²-3b²)²

I just need these 4, they should be super easy!! I really need help

Answers

Answer:

1. v = 72

2. b = 8

3. 0 or -2

4. C = -24

Step-by-step explanation:

Hope this helps.. Can I get brainiest

Branliest to correct answer please explain how you solved it

Answers

You have a 3/6 chance of getting even number (there are 3 even numbers in the 6 die)

You have a 1/16 chance of getting a 16 on the other die

multiply them 1/3 × 1/16 then convert it to decimal form is your answer

Find the surface area of the prism. A solid with six rectangular faces that has length 5 inches, width 3 inches, and height 7 inches. 5 in 3 in 7 in The surface area of the prism is ?

Answers

Answer:

290in

Step-by-step explanation:

Find the area of the bigger triangle (will give brainlest)

Answers

Answer: a. 90

Step-by-step explanation: plz give me brainliest

WILL GIVE BRAINLIST BLS HELP Find z. Just write the number. Answer should be a whole number.

Answers

Answer:

I think the anwser is 8

Step-by-step explanation:

Answer:

It will be 8

Step-by-step explanation:

because the triangle will be in a ratio of 1:[tex]\sqrt{3}[/tex]:2, here 1 corresponds to 4, so the sides will be 4, 4\sqrt{3} and 8!

6. Greg pays a fee of $20 a month for local calls. Long-distance rates are $0.06 per minute for calls within the United States and $0.14 per minute for foreign calls. Suppose Greg makes 300 minutes of long-distance phone calls in January and m of those minutes are for calls within the United States.​

Answers

Answer:

He pays $18 for the long distance calls because 0.06 x 300 is 18

and if you want to find how much that month do 18+20 which is 38

$38 that month

log8(216)+[log(42)_log(6)]÷log(49)​

Answers

Answer:

3 log (3) + 1/2

Step-by-step explanation:

log8(216) + [log(42) - log(6)] ÷ log(49)​ =log (216)/ log (8) + [log (7) + log (6) - log (6)] ÷ 2 log (7) =3 log (3) log (2)  / 3 log (2) + log (7) / 2 log (7) = 3 log (3) + 1/2

Mrs. Stephens bought 3 pounds of tomatoes.How many ounces are equal to 3 pounds?

Answers

Answer:

48 ounces

Step-by-step explanation:

16 ounces per pound

3 x 16 = 48 ounces

PLEASE ANSWER ASAP FOR BRAINLEST !!!!!!!!!!!!!!!!!!!!

Answers

Answer:

your answer will be Option C.256

Step-by-step explanation:

hope it helps

Ali's dog weighs 8 times as much as her cat together the two pets weigh 54 lb how much does Ali's dog weigh ​

Answers

Answer:

48

Step-by-step explanation:

Cat = x

Dog = 8x

x + 8x = 54

9x = 54

x = 6, Dog = 8 * 6 = 48

find ratio of 13cm : 65m​

Answers

Answer:

1:5

Step-by-step explanation:

13cm: 65cm = 13cm/65cm =13/65 = 1/5= 1:5

ITS AN EMERGENCY PLEASE HELP

Answers

Answer:

$9.80

Step-by-step explanation:

Remember that the way to find the mean of a data set is by adding together all the values, and dividing by the number of the values. So, in this case, you add the 5 values together and get 49. Since there are 5 values, you divide 49 by 5 and get 9.8, or in a real world-money situation $9.80.

I need an answer now please quick and easy​

Answers

the question is cut off

The nominal resistance of a wire is 0.15 Ohm. Random testing of the wire stock yields the following resistance data:
0.148 0.147 0.151 0.146 0.151 0.148 0.147 0.152
0.151 0.148 0.149 0.147 0.146 0.149 0.151 0.147
Does the sign test yield the conclusion, at the 5% significance level, that the median resistance is less than 0.15 Ohm?

Answers

Answer:

The median resistance of the wire is not small than 0,15 Ω at 0,05 of level of significance

Step-by-step explanation:

From data we get    x ( sample mean ) s  ( sample standard deviation) and n size of the sample

0.148 0.147 0.151 0.146 0.151 0.148 0.147 0.152

0.151 0.148 0.149 0.147 0.146 0.149 0.151 0.147

n = 16

x ≈ 0,1487

s = 0,00193

Test Hypothesis

1.-Null Hypothesis               H₀                x  =  μ₀  = 0,15

Alternative Hypothesis  Hₐ                 x < 0,15

We assume data follows normal distribution

as n = 16 we should use a t-student table

As the question is : "Is the median resistance less than 0,15 0hm " we must use  one-tail-test ( to the left)

Then:

2.-Significance level  α = 5 %      α = 0,05

degree of freedom   n = 16     df = n - 1    df = 15

From t-table we find t(c) = 1,7531      at the left is t(c) = - 1,7531

3.-t(s) = ( x - 0,15 ) / s / √n

t(s) = 0,1487 - 0,15 / 0,00193/√16

t(s) = - 0,0013 * 4 / 0,00193

t(s) = - 2,69

4.- Comparing t(s) and t(c)  

|t(s) | > |t(c)|       2,69 > 1,753

Then t(s) is in the rejection region

5.- We reject H₀  . At 95 % of confidence Interval

Help me ill give brainless please

Answers

Answer:

p = $200

Step-by-step explanation:

90/p = 45/100

45p = 9000

p = 9000/45 = $200

May you please help me figure out every angle?​

Answers

Answer:

<D = 82°

<E = 49°

<F = 49°

Step-by-step explanation:

This is an isosceles triangle because two of the sides are the same length which means the 2 bottom angles are the exact same which means we can set them equal to each other to solve for it.

What is 3x3/6 because I can’t figure it out

Answers

Answer:

its 48

Step-by-step explanation:

Answer: 1.5

Step-by-step explanation:

choose the correct equation please

Answers

Answer:

y=3×+6

Step-by-step explanation:

bla bla bla bla bla bla bla hhhhhhhhhhhh

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