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2 answers:
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Answer:
The mean would be $322,343 and the median would be $196,723.
Step-by-step explanation:
Since the distribution of individual incomes is skewed to the right, it means that the distribution has a long right tail.
Drawing a distribution with this characteristic, we can see how the majority of the data falls into the left side of the graphic, meaning that a lot of people receive less income. Following this reasoning, the mean which is the amount of the data (in this case individual income) divided by the amount of people, would be the higher number, meaning that the few people who earn more money would influence in making this number higher.
Following this reasoning, the median (which is not influenced by this difference) would be the less high number.
Answer:
a) 0.5198 computers per household
b) 0.01153 computers
Step-by-step explanation:
Given:
number of computers in a home,
q = 0.3458 ln x - 3.045 ; 10,000 ≤ x ≤ 125,000
here x is mean household income
mean income = $30,000
increasing rate, = $1,000
Now,
a) computers per household are
since,
mean income of $30,000 lies in the range of 10,000 ≤ x ≤ 125,000
thus,
q = 0.3458 ln(30,000) - 3.045
or
q = 0.5198 computers per household
b) Rate of increase in computers i.e
=
or
on substituting the values, we get
or
= 0.01153 computers