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Answered: 2. This table shows the mean and median total cash income for married-couple households (including wages, public assistance, interest/dividends, Social… | bartleby
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Infographic: U.S. median household income by state
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The mean household income in the US in 2019 was about 89,930 and the standard deviation was about85,000. (The median income was 59,039.)a) If a Normal model is used for these incomes, what would be the household income of the top 20%?b) How confident can you be in the answer in part a?c) Why might the Normal model not be a good one for incomes?a) The top 20% would have incomes greater than $(Round to the nearest dollar as needed.)
The mean household income in the US in 2019 was about 89,930 and the standard deviation was about85,000. (The median income was 59,039.)a) If a Normal model is used for these incomes, what would be the household income of the top 20%?b) How confident can you be in the answer in part a?c) Why might the Normal model not be a good one for incomes?a) The top 20% would have incomes greater than $(Round to the nearest dollar as needed.)
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numerade.com
Inflation Erodes Wage Gains, Median U.S. Household Income Stalls At $83,730 In 2024, Census Bureau Finds
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