The mean income of households in Utica is $50,000 with a standard deviation of $10,000. Can we use Table A, the Standard Normal table, to estimate the probability that a single randomly chosen Utica household will have an income of less than $52,500? Why or why not?

A

Given that income distribution in Utica is normal, it is possible to use Table A to estimate the probability that a single randomly chosen Utica household will have an income of less than $52,500. This is because the value of $52,500 can be standardized, and the cumulative proportion for the estimated z-score can be found. This cumulative proportion will be the probability that a single randomly chosen Utica household will have an income of less than $52,500.

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Academic.Tips. (2021) 'The mean income of households in Utica is $50,000 with a standard deviation of $10,000. Can we use Table A, the Standard Normal table, to estimate the probability that a single randomly chosen Utica household will have an income of less than $52,500? Why or why not'. 25 September.

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Academic.Tips. (2021, September 25). The mean income of households in Utica is $50,000 with a standard deviation of $10,000. Can we use Table A, the Standard Normal table, to estimate the probability that a single randomly chosen Utica household will have an income of less than $52,500? Why or why not? Retrieved from https://academic.tips/question/the-mean-income-of-households-in-utica-is-50000-with-a-standard-deviation-of-10000-can-we-use-table-a-the-standard-normal-table-to-estimate-the-probability-that-a-single-randomly-chosen-utica-ho/

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Academic.Tips. 2021. "The mean income of households in Utica is $50,000 with a standard deviation of $10,000. Can we use Table A, the Standard Normal table, to estimate the probability that a single randomly chosen Utica household will have an income of less than $52,500? Why or why not?" September 25, 2021. https://academic.tips/question/the-mean-income-of-households-in-utica-is-50000-with-a-standard-deviation-of-10000-can-we-use-table-a-the-standard-normal-table-to-estimate-the-probability-that-a-single-randomly-chosen-utica-ho/.

1. Academic.Tips. "The mean income of households in Utica is $50,000 with a standard deviation of $10,000. Can we use Table A, the Standard Normal table, to estimate the probability that a single randomly chosen Utica household will have an income of less than $52,500? Why or why not?" September 25, 2021. https://academic.tips/question/the-mean-income-of-households-in-utica-is-50000-with-a-standard-deviation-of-10000-can-we-use-table-a-the-standard-normal-table-to-estimate-the-probability-that-a-single-randomly-chosen-utica-ho/.


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Academic.Tips. "The mean income of households in Utica is $50,000 with a standard deviation of $10,000. Can we use Table A, the Standard Normal table, to estimate the probability that a single randomly chosen Utica household will have an income of less than $52,500? Why or why not?" September 25, 2021. https://academic.tips/question/the-mean-income-of-households-in-utica-is-50000-with-a-standard-deviation-of-10000-can-we-use-table-a-the-standard-normal-table-to-estimate-the-probability-that-a-single-randomly-chosen-utica-ho/.

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"The mean income of households in Utica is $50,000 with a standard deviation of $10,000. Can we use Table A, the Standard Normal table, to estimate the probability that a single randomly chosen Utica household will have an income of less than $52,500? Why or why not?" Academic.Tips, 25 Sept. 2021, academic.tips/question/the-mean-income-of-households-in-utica-is-50000-with-a-standard-deviation-of-10000-can-we-use-table-a-the-standard-normal-table-to-estimate-the-probability-that-a-single-randomly-chosen-utica-ho/.

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