Calculate the income that cut off the bottom 10% of incomes and the middle 95% of incomes.
Franklin Joiner director of health education and welfare had just left a meeting with the sta Show more Franklin Joiner director of health education and welfare had just left a meeting with the states newly elected governor and several of the other recently appointed department heads. One of the governors campaign promises was to try to halt the rising cost of the states entitlement program. In several speeches the governor indicated the state of Idaho should allocate funds only to those individuals ranked in the bottom 10% of the states income distribution. Now the governor wants to know how much one could earn before being disqualified from the program and he also wants to know the range of incomes for the middle 95% of the states income distribution. Frank had mentioned in the meeting that he thought the incomes in the state could be approximated by a normal distribution and the mean per capita income was about $33000 with a standard deviation of nearly $9000. Calculate the income that cut off the bottom 10% of incomes and the middle 95% of incomes. Write a short memo describing results Show less
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