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Chapter 3: Q. 20 (page 151)

Millionaires.Dr. Thomas Stanley of Georgia State Uni-versityhas collected information on millionaires, including theirages, since 1973. A sample of 36millionaires has a mean age of 58.5years and a standard deviation of 13.4years.
a.Complete the following graph.
b.Fill in the blanks: Almost all the 36 millionaires are between ____and____years old.

Short Answer

Expert verified

Part(a) Required graph is given below.

Part(b) Almost all the millionaires are between 18.3and 98.7 years old.

Step by step solution

01

Part(a) Step 1 : Given information

We are given age sample of millionaires.

02

Part(a) Step 2 : Simplify

Given that x=58.5

s=13.4

Now,

x-2s=31.7x-s=45.1x+s=71.9x+3s=98.7

Required graph is

03

Part(b) Step 1 : Given information

We are given age sample of millionaires.

04

Part(b) Step 2 : Simplify

For almost all the millionaires , age must be in between x-3sand x+3saccording to Chebyshev's and Empirial rule.

Therefore,

x-3s=18.3(given)

x+3s=58.5+313.4=98.7

Therefore almost all the millionaires are between 18.3and 98.7 years old.


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