The value of μ .

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Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Chapter 6.3, Problem 6.14E

To determine

To find: The value of μ .

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Microsoft Excel snapshot for random sampling: Also note the formula used for the last column 02 x✓ fx =INDEX(5852:58551, RANK(C2, $C$2:$C$51)) A B 1 No. States 2 1 ALABAMA Rand No. 0.925957526 3 2 ALASKA 0.372999976 4 3 ARIZONA 0.941323044 5 4 ARKANSAS 0.071266381 Random Sample CALIFORNIA NORTH CAROLINA ARKANSAS WASHINGTON G7 Microsoft Excel snapshot for systematic sampling: xfx INDEX(SD52:50551, F7) A B E F G 1 No. States Rand No. Random Sample population 50 2 1 ALABAMA 0.5296685 NEW HAMPSHIRE sample 10 3 2 ALASKA 0.4493186 OKLAHOMA k 5 4 3 ARIZONA 0.707914 KANSAS 5 4 ARKANSAS 0.4831379 NORTH DAKOTA 6 5 CALIFORNIA 0.7277162 INDIANA Random Sample Sample Name 7 6 COLORADO 0.5865002 MISSISSIPPI 8 7:ONNECTICU 0.7640596 ILLINOIS 9 8 DELAWARE 0.5783029 MISSOURI 525 10 15 INDIANA MARYLAND COLORADO

Suppose the Internal Revenue Service reported that the mean tax refund for the year 2022 was $3401. Assume the standard deviation is $82.5 and that the amounts refunded follow a normal probability distribution. Solve the following three parts? (For the answer to question 14, 15, and 16, start with making a bell curve. Identify on the bell curve where is mean, X, and area(s) to be determined. 1.What percent of the refunds are more than $3,500? 2. What percent of the refunds are more than $3500 but less than $3579? 3. What percent of the refunds are more than $3325 but less than $3579?

Answer 2

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Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Chapter 6.3, Problem 6.14E

To determine

To find: The value of μ .

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 3

Question

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Chapter 6.3, Problem 6.14E

To determine

To find: The value of μ .

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Chapter 6.3, Problem 6.14E

To determine