Statistics Solutions

(Solution Library) George claims his family income is among top 3% high-income group in the city. The annual average family income in that city is $30,000


Question: George claims his family income is among top 3% high-income group in the city.  The annual average family income in that city is $30,000 and the standard deviation is $8,000.  What is the annual income of George's family?  Describe your assumptions, show your calculations and draw a graph if necessary.

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