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Mr. and Mrs. Jones live in a neighbourhood where the mean family income is $45,000 with a
Standard deviation of $9,000. Mr. and Mrs. Smith live in a neighbourhood where the mean is
$100,000 and the standard deviation is $30,000. What are the relative dispersions of the family
Incomes in the two neighbourhoods?
Speed Limits
Legal maximum or minimum speeds set for vehicles on particular roads to ensure safety.
Binomial Experiment
A statistical experiment that has exactly two mutually exclusive outcomes, often labeled as success and failure.
Possible Outcomes
Refers to all the potential results that may occur from a specific action or random experiment.
Probability
The likelihood or chance that a particular event will occur, often expressed as a number between 0 and 1.
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