According to the Intern al Revenue Service, the mean tax refund for the year 2014 was $2800 Assu me the stan dard devlation I6$450 an d that the amounts 1etunded follow a normal probability distribution.a. What percont of the refunde aro more th an $3,100? (Round the Intermediate velues to 2 decimal places. Round your answerto 2 decimal places)Percert0.25 %b. What percent of the refun ds are more th an $3,100 but less th an $3.500? (Round the intermediete values to 2 dec imal placesRound your ans wer to 2 decimal places)Peroertc. What percent of the retun ds are more th an $2,250 but less than $3.500? (Round the inter mediate val ues to 2 decimalplaces Round your answer to 2 decimal places)Peroart

Given that μ=2800σ=450 Use normal table to obtain the probabilities of different events occurring.

According to the Intern al Pevenue Service, the mean tax refund for the year 2014 was $2800 Assu me the stan dard deviation is $450 an d that the amounts retunded follow a normal probabilty distribution. a. What percent of the refunde are more th an $3,00? (Round the Intermediate values to 2 decimal piaces. Round your answer to 2 decimal pleces) Percert 025 1 b. What percent of the refun ds are more th an $3300 but less th an $3.500? (Round the intermed iate values to 2 decimal places Round your ans wer to 2 decimal places) Peroert c. What percent of the refun ds are more th an $2,250 but less than $3,500? (Round the intermediate vol ues o 2 decimel places Round your answer to 2 decimel places) Peroert

According to the Intern al Pevenue Service, the mean tax refund for the year 2014 was $2800 Assu me the stan dard deviation is $450 an d that the amounts retunded follow a normal probabilty distribution. a. What percent of the refunde are more th an $3,00? (Round the Intermediate values to 2 decimal piaces. Round your answer to 2 decimal pleces) Percert 025 1 b. What percent of the refun ds are more th an $3300 but less th an $3.500? (Round the intermed iate values to 2 decimal places Round your ans wer to 2 decimal places) Peroert c. What percent of the refun ds are more th an $2,250 but less than $3,500? (Round the intermediate vol ues o 2 decimel places Round your answer to 2 decimel places) Peroert

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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