According to the U.S. Census Bureau, the median household income in 2017 (ACS 1 year estimates – 2017) was equal to $60,336 while the poverty threshold for a family of 4 was equal to $24,600. Let’s assume (and this is a big assumption) that median household income is normally distributed with a mean (mu) of $60,336 and a standard deviation (sigma) of $25,000. What is the probability that a family of 4 will have an income that classifies that family as being in poverty? Let’s assume the government follows an alternative poverty measure which states that the lowest 33% of household incomes are considered to be poor. Under this arrangement what would the value of the new poverty threshold become?