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  3. 2 the graph below represents household income for the us...

Question: 2 the graph below represents household income for the us...

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2) The graph below represents household income for the US population in the year 2005. The average (mean) income was $63,344 and the median income was $46,326. population standard deviation of $27,435. Assume a 112,363,000 households below $250,000 150000 Total 114,384,000 households 94 705 1250,000 a. Explain why the Empirical rule cannot be used for this data. Why would Chebyshevs rule be a good alternative? According to Chebyshevs rule, what income range would have at least the middle 75% of the population? b. A household income of $120,000 is more than 2 standard deviations higher than the mean for US household incomes in 2005. Would an income of $120,000 be considered unusual? Justify your answer. c.
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