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Retirement Income Of the total population of American
Chapter 6, Problem 17RE(choose chapter or problem)
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)