If a Sample of Size 30 Is Selected,the Value of a for the Probability

question 145

Multiple Choice

If a sample of size 30 is selected,the value of A for the probability P(t ≥A) = 0.01 is:

• A)2.247
• B)2.045
• C)2.462
• D)2.750

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Definitions:

Lorenz Curve

An illustrated chart that maps out the distribution of wealth or income among individuals in a society, revealing disparities.

Income Inequality

The unequal distribution of income among members of a society.

Gini Ratio

An assessment of the variation in income levels within a population, where 0 reflects equality in earnings and 1 reflects the highest possible inequality.

Income Inequality

The uneven distribution of income across various participants in an economy.