Mathematics, 15.04.2020 23:34 brea2006
An article in the European Physical Journal B ["Evidence for the exponential distribution of income in the USA" (2001, Vol. 20, pp. 585-589)] shows that individual income in the US can be approximated with an exponential distribution. Suppose that the mean of individual income in a year is $23000. (a) Write the probability distribution function for individual income. f (x) = Edit LINK TO TEXT (b) What percentage of individuals in the US earn less than $21000? Round your answer to three decimal places (e.9. 98.765). P(X < 21000) = L (c) What percentage of individuals in the US earn more than $495007 Round your answer to three decimal places (e. g. 98.765). P(X > 49500) = (d) What is the income exceeded by 2% of individuals?
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An article in the European Physical Journal B ["Evidence for the exponential distribution of income...
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