Question

The Federal Reserve System publishes data on family income based on its Survey of Consumer Finances....

The Federal Reserve System publishes data on family income based on its Survey of Consumer Finances. When the head of the household has a college degree, the mean before-tax family income is $ 85,250. Suppose that 56% of the before-tax family incomes when the head of the household has a college degree are between $75,500 and $95,000 and that these incomes are normally distributed. What is the standard deviation of before-tax family incomes when the head of the household has a college degree?

(Round the value of z to 2 decimal places. Round your answer to 2 decimal places.)


Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Data from the U.S. Federal Reserve Board on the percentage of disposable personal income required to...
Data from the U.S. Federal Reserve Board on the percentage of disposable personal income required to meet consumer loan payments and mortgage payments for selected years are shown in the following table. What is the value of the correlation coefficient for this data set? (Give the answer to four decimal places.) r = Consumer Debt Household Debt Consumer Debt Household Debt 7.89 6.22 6.25 5.73 7.90 6.14 6.09 5.95 7.65 5.96 6.32 6.09 7.60 5.84 6.98 6.28 7.48 5.82 7.37...
Data from the U.S. Federal Reserve Board on the percentage of disposable personal income required to...
Data from the U.S. Federal Reserve Board on the percentage of disposable personal income required to meet consumer loan payments and mortgage payments for selected years are shown in the following table. What is the value of the correlation coefficient for this data set? (Give the answer to four decimal places.) r = Consumer Debt Household Debt Consumer Debt Household Debt 7.89 6.22 6.23 5.72 7.90 6.14 6.08 5.95 7.64 5.95 6.33 6.09 7.62 5.83 6.98 6.28 7.49 5.83 7.38...
Compute the 2019 Federal income tax liability and the marginal and effective tax rates in each...
Compute the 2019 Federal income tax liability and the marginal and effective tax rates in each of the following independent cases. Click here to access the 2019 tax rate schedule. If required, round the tax liability the nearest dollar. When required, round the average rates to four decimal places before converting to a percentage (i.e. .67073 would be rounded to .6707 and entered as 67.07%). a. Chandler is single and reports taxable income of $149,000. Tax liability: $ -- Marginal...
Exercise 3-20 (Algorithmic) (LO. 6) Compute the 2018 Federal income tax liability and the marginal and...
Exercise 3-20 (Algorithmic) (LO. 6) Compute the 2018 Federal income tax liability and the marginal and effective tax rates in each of the following independent cases. Click here to access the 2018 tax rate schedule. If required, round the tax liability the nearest dollar. When required, round the average rates to four decimal places before converting to a percentage (i.e. .67073 would be rounded to .6707 and entered as 67.07%). a. Chandler is single and reports taxable income of $104,200....
Instructions: Please complete the 2017 federal income tax return for Magdalena Schmitz. Ignore the requirement to...
Instructions: Please complete the 2017 federal income tax return for Magdalena Schmitz. Ignore the requirement to attach the form(s) W-2 to the front page of the Form 1040. If required information is missing, use reasonable assumptions to fill in the gaps. Make sure you include all necessary schedules and tax forms. Magdalena Schmitz has undergone some major changes in her life recently. In 2015, at the age of 46, her husband, Roger, passed away. Magdalena has not remarried as of...
Heather, a single taxpayer who files as a head of household, earns $60,900 in taxable income...
Heather, a single taxpayer who files as a head of household, earns $60,900 in taxable income and $9,500 in interest from an investment in city of Oxford Bonds. Using the U.S. tax rate schedule for year 2019, how much federal tax will she owe? What is her average tax rate? What is her effective tax rate? What is her current marginal tax rate? If Heather has an additional $29,000 of tax deductions, what is her marginal tax rate on these...
Lance H. and Wanda B. Dean are married and live at 431 Yucca Drive, Santa Fe,...
Lance H. and Wanda B. Dean are married and live at 431 Yucca Drive, Santa Fe, NM 87501. Lance works for the convention bureau of the local Chamber of Commerce, while Wanda is employed part-time as a paralegal for a law firm. During 2016, the Deans had the following receipts: Salaries ($60,000 for Lance, $41,000 for Wanda) $101,000 Interest income—    City of Albuquerque general purpose bonds $1,000    Ford Motor company bonds 1,100    Ally Bank certificate of deposit 400 2,500 Child...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT