Incomes in a Particular Market Area Are Known to Be

question 66

Multiple Choice

Incomes in a particular market area are known to be right-skewed with a mean equal to $33,100. In a report issued recently, a manager stated that at least 89 percent of all incomes are in the range of $26,700 to $39,500, and this was based on Tchebysheff's theorem. Given these facts, what is the standard deviation for the incomes in this market area?

• A) Approximately $6,400
• B) Approximately $3,200
• C) Approximately $2,133
• D) Approximately $4266

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Definitions:

Effective Manager

A manager who achieves organizational goals through efficient planning, organizing, leading, and controlling of resources.

Funnel Sequence

A communication or questioning technique that begins with broad questions and gradually narrows down to more specific ones.

Inverted Funnel Sequence

A method of organizing information or questioning in which general questions are asked first, followed by more specific ones.

Hourglass Sequence

A narrative or organizational structure that begins with a broad overview, narrows down to focus on specific details, and then expands again to consider broader implications.