Maurice Tutor

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    Argosy University/ Phoniex University/
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Category > Computer Science Posted 19 Sep 2017 My Price 6.00

income distribution of super shoppers

Marketing: Income What is the income distribution of super shoppers. In the following table, income units are in thousands of dollars, and each interval goes up to but does not include the given high value. The midpoints are given to the nearest thousand dollars.

Income range

5–15

15–25

25–35

35–45

45–55

55 or more

Midpoint x

10

20

30

40

50

60

Percent of

 

 

 

 

 

 

super shoppers

21%

14%

22%

15%

20%

8%

(a) Using the income midpoints x and the percent of super shoppers, do we have

a valid probability distribution? Explain.

(b) Use a histogram to graph the probability distribution of part (a).

(c) Compute the expected income m of a super shopper.

(d) Compute the standard deviation s for the income of super shoppers.

Answers

Maurice Tutor
(5)
Status NEW Posted 19 Sep 2017 06:09 AM My Price 6.00

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