The family income X in region Omega is a continuous r.v. with a distribution N (300, 100²). If the cost of the basic family basket in Omega is 350 monetary units and it is forseen that it will be kept in such level the next 6 years, and the government ensures that its new reactivation plan, in 5 years only 30% of the families will be in poverty [A family is said to be in poverty if it cannot cover the basic family basket]. How much additional money would each family need to earn for satisfying the government claim?

The family income X in region Omega is a continuous r.v. with a distribution N (300, 100²). If the cost of the basic family basket in Omega is 350 monetary units and it is forseen that it will be kept in such level the next 6 years, and the government ensures that its new reactivation plan, in 5 years only 30% of the families will be in poverty [A family is said to be in poverty if it cannot cover the basic family basket]. How much additional money would each family need to earn for satisfying the government claim?

Algebra & Trigonometry with Analytic Geometry

13th Edition

ISBN:9781133382119

Author:Swokowski

Publisher:Swokowski

Chapter10: Sequences, Series, And Probability

Section10.2: Arithmetic Sequences

Problem 67E

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