Retirement Income Of the total population of American

Chapter 6, Problem 17RE

(choose chapter or problem)

Get Unlimited Answers
QUESTION:

Problem 17RE

Retirement Income Of the total population of American households, including older Americans and perhaps some not so old, 17.3% receive retirement income. In a random sample of 120 households, what is the probability that more than 20 households but less than 35 households receive a retirement income? (6–4)

Questions & Answers

QUESTION:

Problem 17RE

Retirement Income Of the total population of American households, including older Americans and perhaps some not so old, 17.3% receive retirement income. In a random sample of 120 households, what is the probability that more than 20 households but less than 35 households receive a retirement income? (6–4)

ANSWER:

Solution 17RE

Step1 of 3:

From the given problem we have:

Here we need to find the probability that more than 20 households but less than 35 households receive a retirement income.


Step2 of 3:

Consider,  

 

           

       

Now, we need to check whether the normal approximation can be used or not. For that consider,

Consider,

             

                                                   …….(1)

Add to cart


Study Tools You Might Need

Not The Solution You Need? Search for Your Answer Here:

×

Login

Login or Sign up for access to all of our study tools and educational content!

Forgot password?
Register Now

×

Register

Sign up for access to all content on our site!

Or login if you already have an account

×

Reset password

If you have an active account we’ll send you an e-mail for password recovery

Or login if you have your password back