Homework SourseWhat is the probability that a randomly selected household h
What is the probability that a randomly selected household has an income 100 thousand or more?
| income | 0 to 19.9 | 20 to 39.9 | 40 to 59.9 | 60 to 79.9 | 80 to 99.9 | 100 plus |
| percent | 19% | 22% | 17% | 13% | 9% | ? |
Solution
For valid probability distribution, sum of percentages should be 100% (i.e, sum of probabilities should be 1), thus P(100 plus) = 1-0.8 = 0.2 = 20%
