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Card 12 / 18:
The distribution of income in some Third World countries is considered wedge shaped (many very poor people, very few middle income people, and even fewer wealthy people). Suppose we pick a country with a wedge shaped distribution. Let the average salary be $2,000 per year with a standard deviation of $8,000. We randomly survey 1,000 residents of that country.
In words, Χ = _____________In words, X ¯ = _____________X ¯ ~ _____(_____,_____)How is it possible for the standard deviation to be greater than the average?Why is it more likely that the average of the 1,000 residents will be from $2,000 to $2,100 than from $2,100 to $2,200?
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