Section 5.4 exercise 16
the mean household income in a country in a recent year was about $69,953 and the standard deviation was about $90,000. (the median income was $55,517)
a) if a normal model was used for these incomes, what would be the household income of the top 4%?
b) how confident should one be in the answer in part a?
c) why might the normal model not be a good one for incomes?
a) the income would be s
(round to the nearest dollar as needed)