Ask Question
2 July, 08:02

The median annual household income in a certain community of 21 households is $50,000. If the mean income of a household increases by 10% per year over the next 2 years, what will the median income in the community be in 2 years?

+3
Answers (1)
  1. 2 July, 11:51
    0
    answer is Cannot be determined

    Explanation:

    given data

    household income = $50,000

    increases = 10% per year

    time = 2 year

    solution

    as we know that here mean is increase by 10 percentage

    but from the mean percentage increase in does not meaning that it will increase median also with same percentage

    because median also increase by some percentage if data is move up

    but we can not say it will move with same percentage

    so here answer is Cannot be determined from given data
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “The median annual household income in a certain community of 21 households is $50,000. If the mean income of a household increases by 10% ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers