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Business, 03.03.2020 04:52 jdkrisdaimcc11

The incomes of all families in a particular suburb can be represented by a continuous random variable. It is known that the median income for all families in this suburb is $60,000 and that 40% of all families in the suburb have incomes above $72,000.

a) For a randomly chosen family what is the probability that its income will be between $60000 and $72000.

b) If the distribution function for the income is known to be uniform what is the probability that a random chosen family has an income below $65000.

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