Assume the monthly income of a family in an identified city is approximately normally distributed with a mean of $2,000 and a standard deviation of $100

Math Apr 14, 2021

Assume the monthly income of a family in an identified city is approximately normally distributed with a mean of $2,000 and a standard deviation of $100.

i. If a family from this city is randomly selected, what is the probability that the income of the family is over $2250 per month?

ii.. The mayor of this city decided to give financial assistance for the families whose income is in the bottom 1%. What is the highest monthly income of a family who qualifies for this financial assistance?

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