MATH SOLVE

3 months ago

Q:
# 8. It has been estimated that about 18.5% of adults whose income is below the poverty level work full-time throughout the year. A random sample of 150m people whose poverty level meets the criteria have been chosena. What is the expected value?b. Calculate the standard deviation

Accepted Solution

A:

Answer: The expected value is 27.75 million and standard deviation is 81.5%
Explanation:Given the sample was selected from the population
The population was of 150 million people
(a) Expected Value
Given that the adults whose income is below poverty line is 18.5%
Expected value = 18.5% of 150 million
= [tex]\frac{18.5}{100} \times 15,00,00,000=2,77,50,000[/tex]= 27.75 million
Therefore, the expected value is 27.75 million
(b) Standard deviation
Standard deviation = Β [tex]\frac{150000000-27750000}{150000000} \times 100=81.5 \%[/tex]Standard deviation is 81.5%