Question

In: Statistics and Probability

the average income in jefferson county is $32,000 with standard deviation of $12000. what is the...

the average income in jefferson county is $32,000 with standard deviation of $12000. what is the probability that a randomly selected person makes under $30,000?

Solutions

Expert Solution

: Average income in Jefferson county  

We wish to find ,

Probability that randomely selected person makes under $30000 is 0.4325

​​​​​

orchestra answered 2 years ago
Next > < Previous

Related Solutions

The average age for licensed drivers in a county is 42.6, with a standard deviation of...
The average age for licensed drivers in a county is 42.6, with a standard deviation of 12, and the distribution is approximately normal. A county police officer was interested in whether the average age of those receiving speeding tickets is less that the average age of the population who has a license. She obtained a sample of 16 drivers with speeding tickets. The average age for this sample was 34.4. Do all the steps of hypothesis testing using the 0.01...
The average size of 8 farms in Indiana County, Pennsylvania, is 191 acres with standard deviation...
The average size of 8 farms in Indiana County, Pennsylvania, is 191 acres with standard deviation of 38 acres. The average size of 10 farms in Greene County, Pennsylvania, is 199 acres with standard deviation of 12 acres. Can it be concluded that average size of the farms in Indiana County and the average size of the farms in Greene County are different? Use 95% confidence interval to compare
In a group of 66 Mummers, the average income was $62,000 with a standard deviation of...
In a group of 66 Mummers, the average income was $62,000 with a standard deviation of $22,000. We are interested to determine if the average income of a Mummer is significantly different than $50,000. Write the appropriate null and alternative hypotheses for the hypothesis test that is relevant to this problem. Find the test statistic. Find the critical value for α=0.05. What is the result of the hypothesis test? Why?
In a group of 66 Mummers,  the average income was $62,000 with a standard deviation of $22,000....
In a group of 66 Mummers,  the average income was $62,000 with a standard deviation of $22,000. We are interested to determine if the average income of a Mummer is significantly different than $50,000. Write the appropriate null and alternative hypotheses for the hypothesis test that is relevant to this problem. Find the test statistic. Find the critical value for α=0.05. What is the result of the hypothesis test? Why? Find the critical value for α=0.01. What is the result of...
In a group of 66 Mummers,  the average income was $62,000 with a standard deviation of $22,000....
In a group of 66 Mummers,  the average income was $62,000 with a standard deviation of $22,000. We are interested to determine if the average income of a Mummer is significantly different than $50,000. Write the appropriate null and alternative hypotheses for the hypothesis test that is relevant to this problem. Find the test statistic. Find the critical value for α=0.05. What is the result of the hypothesis test? Why? Find the critical value for α=0.01. What is the result of...
The average annual income of adult Americans is $56000 with a standard deviation of $4200. Assuming...
The average annual income of adult Americans is $56000 with a standard deviation of $4200. Assuming that the average annual income is normal, what is the probability that a single adult American earns more than $62000 annually. (include a normal curve with the appropriate parameters)
What is the difference between standard deviation and average deviation? Which calculation is more useful for...
What is the difference between standard deviation and average deviation? Which calculation is more useful for determining if a data point can be omitted from a data set?
Using the below returns, what is the average return, the variance, and the standard deviation 1.38%...
Using the below returns, what is the average return, the variance, and the standard deviation 1.38% 11.77% :21.61% -4.23% 31.22%
The standard deviation of a portfolio: Multiple Choice is a weighted average of the standard deviations...
The standard deviation of a portfolio: Multiple Choice is a weighted average of the standard deviations of the individual securities held in the portfolio. is an arithmetic average of the standard deviations of the individual securities which comprise the portfolio. can never be less than the standard deviation of the most risky security in the portfolio. can be less than the standard deviation of the least risky security in the portfolio. must be equal to or greater than the lowest...
Portfolio            Average Return      Standard Deviation   Beta    A                &nb
Portfolio            Average Return      Standard Deviation   Beta    A                             14.7%                     18.6%                 1.47    B                               8.8                           14.2                  .78    C                             11.2                           16.0                 1.22 The risk-free rate is 4.5 percent and the market risk premium is 7 percent. What is the Treynor ratio of a portfolio comprised of 30 percent portfolio A, 20 percent portfolio B, and 50 percent portfolio C? SHOW WORK
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT