Mathematics: 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 fewer than 35 households receive a retirement income?

12.6 * 0.45Step-by-step explanation:Cost of 1 lb of oranges = $ 0.45Cost of 12 lbs of oranges = 12 * $ 0.45Hope it helps : )...

Of the total population of American households,

Ответ:

ILOVEAARON39821

20.01.2022

Mathematics

47.54% probability that more than 20 households but fewer than 35 households receive a retirement income

Step-by-step explanation:

We use the binomial aproxiation to the normal to solve this question.

Binomial probability distribution

Probability of exactly x sucesses on n repeated trials, with p probability.

Can be approximated to a normal distribution, using the expected value and the standard deviation.

The expected value of the binomial distribution is:

E(X) = np

The standard deviation of the binomial distribution is:

$\sqrt{V(X)} = \sqrt{np(1-p)}$

Normal probability distribution

Problems of normally distributed samples can be solved using the z-score formula.

In a set with mean $\mu$ and standard deviation $\sigma$ , the zscore of a measure X is given by:

$Z = \frac{X - \mu}{\sigma}$

The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.

When we are approximating a binomial distribution to a normal one, we have that $\mu = E(X)$ , $\sigma = \sqrt{V(X)}$ .