Income by Region - According to the U.S. Census Bureau, 17.9% of U.S. households
ID: 3128156 • Letter: I
Question
Income by Region - According to the U.S. Census Bureau, 17.9% of U.S. households are in the Northeast. In addition, 5.4% of U.S. households earn $100,000 per year or more and are located in the Northeast. Determine the probability that a randomly selected U.S. household earns more than $100,000 per year, given that the household is located in the Northeast Income by Region - According to the U.S. Census Bureau, 17.9% of U.S. households are in the Northeast. In addition, 5.4% of U.S. households earn $100,000 per year or more and are located in the Northeast. Determine the probability that a randomly selected U.S. household earns more than $100,000 per year, given that the household is located in the NortheastExplanation / Answer
Let
N = lives in NorthEast
B = has income greater than 100000
Hence,
P(N) = 0.179
P(N n B) = 0.054
Hence,
P(B|N) = P(N n B)/P(N) = 0.054/0.179 = 0.301675978 [ANSWER]