What is the income distribution of super shoppers?

(a) Using the income midpoints x and the percent of super shoppers, do we have a valid probability distribution? Explain.

Yes. The events are distinct and the probabilities sum to 1.

Yes. The events are distinct and the probabilities do not sum to 1.

No. The events are indistinct and the probabilities sum to 1.

No. The events are indistinct and the probabilities sum to more than 1.

Yes. The events are indistinct and the probabilities sum to less than 1.

(b) Use a histogram to graph the probability distribution of part (a). (Select the correct graph.)

(c) Compute the expected income μ of a super shopper (in thousands of dollars). (Enter a number. Round your answer to two decimal places.)

μ =

thousands of dollars

(d) Compute the standard deviation σ for the income of super shoppers (in thousands of dollars). (Enter a number. Round your answer to two decimal places.)

σ =

thousands of dollars