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Probability Distribution of Mean Income

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Mean income of a sample of workers is $32,000 for 9 months with a standard deviation of $3,000. Without making as assumption about probability distribution, what is the statistically expected proportion of workers that earn less than $26,000 or more than $38,000?

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Solution Summary

The solution calculates the probability distribution for the income of workers.

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As we can say that 26,000 and 38,000 are 32,000 +/- 6,000
or ...

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