Question

The income of a group of 10000 persons were found to be normally distributed with mean rs 520 and S.D. Rs 60. Find

(i) the number of persons having incomes between Rs 400 and Rs 550?
(ii) The lowest income of the richest 500.

Answer 1

The student's question involves the use of the normal distribution to determine the number of persons with incomes between two values and the income at a certain percentile among a large group.

Step-by-step explanation:

The student is asking about the application of the normal distribution in statistics to determine the income levels of certain individuals within a group. Part (i) of the question can be solved by employing Z-scores to determine the number of persons earning between Rs 400 and Rs 550. As for part (ii), finding the lowest income of the richest 500 individuals entails determining the income at a specific percentile of the normal distribution.

It's important to remember that the normal distribution is symmetrical and the mean represents the highest point of the curve.The student's question involves the use of the normal distribution to determine the number of persons with incomes between two values and the income at a certain percentile among a large group.