The prices of condos in a city are normally distributed with a mean of $90,000 and a

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The prices of condos in a city are normally distributed with a mean of $90,000 and a standard deviation of $28,000. The city government exempts the cheapest 6.68% of the condos from city taxes.

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a. What is the maximum price of the condos that will be exempt from city taxes?

b. If 1.79% of the most expensive condos are subject to a luxury tax, what is the minimum price of condos that will be subject to the luxury tax?

Related Book For answer-question

Elementary Statistics Picturing the World

ISBN: 978-0321911216

6th edition

Authors: Ron Larson, Betsy Farber

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Posted Date: Oct 10, 2018 02:45 AM

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The prices of condos in a city are normally distributed with a mean of $90,000 and a

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Elementary Statistics Picturing the World

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