Question

8. It has been estimated that about 18.5% of adults whose income is below the poverty level work full-time throughout the year. A random sample of 150m people whose poverty level meets the criteria have been chosen

a. What is the expected value?

b. Calculate the standard deviation

Answer 1

The expected value is 27.75 million and standard deviation is 81.5%

Step-by-step explanation:

Given the sample was selected from the population

The population was of 150 million people

(a) Expected Value

Given that the adults whose income is below poverty line is 18.5%

Expected value = 18.5% of 150 million

=
`(18.5)/(100) * 15,00,00,000=2,77,50,000`

= 27.75 million

Therefore, the expected value is 27.75 million

(b) Standard deviation

Standard deviation =
`(150000000-27750000)/(150000000) * 100=81.5 \%`

Standard deviation is 81.5%