The Mean Household Income of France Is Approximately 20,000 Euros

question 36

Short Answer

The mean household income of France is approximately 20,000 euros. Suppose the household income in France has a standard deviation of 10,000 euros and follows a log-normal distribution. Estimate the proportion of French households that have an income of more than 25,000 euros.

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Definitions:

Brand Loyalty

The tendency of consumers to continuously purchase one brand's products over competing ones.

Positive Reinforcement

A technique in behavior management that increases the likelihood of a behavior by following it with a desirable outcome or reward.

American Core Values

Fundamental beliefs or principles that are widely accepted and upheld within American society, such as freedom, equality, and democracy.

Attitudes

Psychological tendencies expressed by evaluating a particular entity with some degree of favor or disfavor.