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    Chebyshev's Inequality

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    Household income does not tend to follow a normal distribution in a particular state, yet average income is approximately $45,000/year in this state, with a standard deviation of about $9000. At least what percentage of household incomes in this state is likely to be between $18,000 to $72,000/year? Show your work as to how this is obtained.

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    Normal distribution
    Household income does not tend to follow a normal distribution in a particular state, yet average income is approximately $45,000/year in this state, with a standard deviation of about $9000. At least what percentage of household incomes in this state is likely to be ...

    Solution Summary

    The solution provides step by step method for the calculation of probability using Chebyshev's Inequality. Formula for the calculation and Interpretations of the results are also included.

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