In a memo to all those involved in tax preparation, the IRS indicated that the mean amount
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In a memo to all those involved in tax preparation, the IRS indicated that the mean amount of refund was $1,600 with a standard deviation of $850. Assume the distribution of the amounts returned follows the normal distribution.
a. What percent of the refunds were between $1,600 and $2,000?
b. What percent of the refunds were between $900 and $2,000?
c. According to the above information, what percent of the refunds were less than $0; that is, the taxpayer owed the IRS.
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Statistical Techniques in Business and Economics
ISBN: 978-1259666360
17th edition
Authors: Douglas A. Lind, William G Marchal
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