
Answer-first summary for fast verification
Answer: 0.1498
## Explanation To solve this problem, we need to find the percentage of the population with incomes between CAD 45,000 and CAD 50,000 using the normal distribution. **Step 1: Calculate Z-scores** - For CAD 45,000: $$Z_1 = \frac{45,000 - 55,000}{10,000} = -1$$ - For CAD 50,000: $$Z_2 = \frac{50,000 - 55,000}{10,000} = -0.5$$ **Step 2: Find probabilities from Z-table** Using the standard normal distribution table: - For Z = -1, the cumulative probability is 0.1587 - For Z = -0.5, the cumulative probability is 0.3085 **Step 3: Calculate the probability between the two values** The percentage of population between CAD 45,000 and CAD 50,000 is: $$P(45,000 < X < 50,000) = P(Z_2) - P(Z_1) = 0.3085 - 0.1587 = 0.1498$$ This corresponds to **14.98%** of the population. **Verification:** - The calculation is correct: 0.3085 - 0.1587 = 0.1498 - This represents the area under the normal curve between Z = -1 and Z = -0.5 - Option A (0.1498) is therefore the correct answer
Author: Tanishq Prabhu
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The population living in Calgary, Canada has a mean income of CAD 55,000 with a standard deviation of CAD 10,000. If the distribution is assumed to be normal, what is the percentage of the population that makes between CAD 45,000 and CAD 50,000?
A
0.1498
B
0.1511
C
0.1624
D
0.2014
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