Question

A monthly income of a group of 10000 person were found to be normally distributed with mean equal to rs. 15000 and standard deviation equal to rs. 1000 ? What is the lowest income among the richest 250 persons

Answer 1

Answer:

SORRY BRO ITS EMERGENCY

Explanation:

Answer 2

The lowest income among the 250 richest people is Rs. 16,960.

Step-by-Step Explanation:

• Let x be the variable representing the income.

• This can be depicted as x - N (15,000,1000²)

• Thus, the proportions of persons having income beyond x are

            250/10,000 = 0.025

• Which may be taken as the probabilities of a person having income beyond x.

• According to the standard normal curve table, we have to find the value of z, the area beyond which is 0.025

• The table gives area from 0 to a specified value of z, we have to find the value of z, the area up to which is

             0.5 - 0.025 = 0.475

From table T1 of the area under the standard normal curve, we find the corresponding value of z as 1.96.

• Now, Since z = 1.96, we have

              1.96 = x - 15000/1000

        i.e., 1000 * 1.96 = x- 15000      

                               x = 15000 + 1960

                                   = 16960.

Therefore, the lowest income among the 250 richest people is Rs. 16,960.