A new tax law is expected to benefit “middle income” families, those with incomes between $25,000...

A new tax law is expected to benefit “middle income” families, those with incomes between $25,000 and $35,000. If family income is normally distributed with mean $25,000 and standard deviation $6,000, what percentage of the population will benefit from the law?

Expert Solution

µ = 25000

sd = 6000

= P(0 < Z < 1.67)

= P(Z < 1.67) - P(Z < 0)

= 0.9522 - 0.5

= 0.4522

= 45.22%

orchestra answered 1 year ago

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