A Sample of 500 Evening Students Revealed That Their Annual

question 143

Multiple Choice

A sample of 500 evening students revealed that their annual incomes from employment in industry during the day were normally distributed with a mean income of $30,000 and a standard deviation of $3,000. (i) 250 students earned more than $30,000.
(ii. 341 students earned between $27,000 and $33,000.
(iii) 290 students earned between $24,000 and $30,000.

• A) (i), (ii), and (iii) are all correct statements.
• B) (i) is a correct statement but not (ii) or (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (i) and (ii) are correct statements but not (iii).
• E) (ii) and (iii) are correct statements but not (i).

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Definitions:

Positive Statement

An objective and fact-based statement that can be tested and validated, focusing on describing how the world is.

Normative Statement

An opinion or judgment that suggests how things should be, rather than stating factual or objective observations.

Government Spending

The total amount of money that the government expends on public services and projects, such as infrastructure and defense.

Macroeconomist

An economist who studies and analyzes large-scale economic phenomena, including inflation, unemployment, and economic growth.