Find the lowest income among the richest persons

Assignment Help Basic Statistics
Reference no: EM13125027

The monthly incomes of a group of 10,000 persons were found to be normally distributed with mean equal to 15,000 and standard deviation equal to 1000. What is the lowest income among the richest 250 persons?

Reference no: EM13125027

Questions Cloud

Computing delta h : Calculating Delta H, Use some or all of the following reaction enthalpies to calculate delta H for the reaction:
Index of subgroup and coset of subgroup : Explain what the index of a subgroup and a coset of a group are. Also, prove that if N is a subgroup of a group G such that [G: N] = 2, and if "a" and "b" are elements of G,
Briefly discuss the major benefits of nafta : Discuss and explain the major provisions of the North American Free trade Area (NAFTA) agreement. Briefly discuss the major benefits of NAFTA to the U.S. economy.
Estimating the stocks price per share : The company has 10 million shares of stock outstanding. What is the best estimate of the stock's price per share?
Find the lowest income among the richest persons : Normally distributed with mean equal to 15,000 and standard deviation equal to 1000. What is the lowest income among the richest 250 persons?
What is the amount of the loss on impairment : What is the amount of the loss on impairment that Beehive should recognize at June 30, 2006?
Calculate the temperature at which the reaction changes : If delta H for the reaction is -851.5 kJ/mol at 25'C, calculate the standard free energy change, delta G for the reaction at 25'C. Calculate the temperature at which the reaction changes from spontaneous to non-spontaneous.
Compute the ending inventories under the dollar value : compute the ending inventories under the dollar value lifo method for 2011, 2012, 2013. the base period is January 1, 2011, and the beginning inventory cost at the date was $45,000. compute indexes to two decimal places.
Confidence interval of proportion of students-hate business : A study of 49 business graduates reported 42 students listed stats 100 as their least favorite class. what would be the 99.8% confidence interval of the proportion of business students who hate, hate, hate business?

Reviews

Write a Review

Basic Statistics Questions & Answers

  Gathering the data for test hypotheses

How should he go about taking samples to gather data for testing the hypotheses?

  Effect of extreme value on confidence interval

Compute a 95% confidence interval for the population mean, based on the sample 25, 27, 23, 24, 25, 24 and 59. Change the number from 59 to 24 and recalculate the confidence interval.

  Correlation analysis of wal-mart-sears

Using Microsoft Excel, create a correlation analysis of Wal-Mart's annual net income over the past 10 years compared with Sears's annual net income over the past 10 years and interpret the results.

  Solving equations from word problems

Find the average weight in pounds of a type of bird of your choice. Use the rational exponent equation L = 2.43 * W^0.3326 to estimate the wingspan L in feet of the bird that weighs W pounds (Rockswold, 2006).

  Probability notation

What is a probability notation? What are the advantages and disadvantages of using a probability notation? How does probability notation aid in decision making?

  Probability and sample mean

What is the probability that the sample mean will be greater than M = 510. In symbols, what is p (M>510)?

  Probability of choosing four randomly

Choose a group of 4 adults at random. What is the probability that none of them enjoy drinking beer?

  Selecting suitable hypothesis

National average for 2-year leases is 30,000 miles. Select the suitable hypothesis.

  Error-confidence level and sample size

You will be graded on accuracy, completeness (addressing each point above), and effectiveness (utility, ease of reading).

  Determining evidence of difference in median performance

Is there evidence of difference in median performance between two methods? (Use α = 0.05.)

  The portfolio weight of stock

You own a $46,000 portfolio comprised of four stocks. The values of stocks A, B, and C are $5,600, $16,700, and $11,400, respectively. What is the portfolio weight of stock D?

  Assumptions for simple linear regression model

Provide a discussion that supports the assumption that the variance of savings increases with family income.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd