According to the IRS, 2012 tax returns showed an average refund of $2824 with a standard deviation of $2622. Assume that 2012 tax return amounts are normally distributed. Basedon this information (and information in Questions 7-13), generate excel output in the given space on the Tax sheet in this workbook to answer the following questions. Each orangenumerical answer cell below MUST reference Excel output cells in the Tax sheet.Question 7Find the probability a randomly selected 2012 tax return showed an amount no less than $2,621 and at most $6,213Question 8Find the probability a randomly selected 2012 tax return showed an amount greater than $3,066Question 9ind the probability a randomly selected 2012 tax return showed an amount less than or equal to $4,264 or greater than $5,045.Question 10Find the probability a randomly selected 2012 tax return showed an amount less than $580.

Question
Asked Feb 23, 2019
According to the IRS, 2012 tax returns showed an average refund of $2824 with a standard deviation of $2622. Assume that 2012 tax return amounts are normally distributed. Based
on this information (and information in Questions 7-13), generate excel output in the given space on the Tax sheet in this workbook to answer the following questions. Each orange
numerical answer cell below MUST reference Excel output cells in the Tax sheet.
Question 7
Find the probability a randomly selected 2012 tax return showed an amount no less than $2,621 and at most $6,213
Question 8
Find the probability a randomly selected 2012 tax return showed an amount greater than $3,066
Question 9
ind the probability a randomly selected 2012 tax return showed an amount less than or equal to $4,264 or greater than $5,045.
Question 10
Find the probability a randomly selected 2012 tax return showed an amount less than $580.
help_outline

Image Transcriptionclose

According to the IRS, 2012 tax returns showed an average refund of $2824 with a standard deviation of $2622. Assume that 2012 tax return amounts are normally distributed. Based on this information (and information in Questions 7-13), generate excel output in the given space on the Tax sheet in this workbook to answer the following questions. Each orange numerical answer cell below MUST reference Excel output cells in the Tax sheet. Question 7 Find the probability a randomly selected 2012 tax return showed an amount no less than $2,621 and at most $6,213 Question 8 Find the probability a randomly selected 2012 tax return showed an amount greater than $3,066 Question 9 ind the probability a randomly selected 2012 tax return showed an amount less than or equal to $4,264 or greater than $5,045. Question 10 Find the probability a randomly selected 2012 tax return showed an amount less than $580.

fullscreen
check_circleExpert Solution
Step 1

We are given that the 2012 tax returns showed an average refund of $2824 with a standard deviation of $2622. Also, we need to assume that 2012 tax return amounts are normally distributed.

 

fullscreen
Step 2

Question 7: Find the probability a randomly selected 2012 tax return showed an amount no less than $2621 and at most $6213

Answer: We can use the below excel function to find the probability a randomly selected 2012 tax return showed an amount no less than $2621 and at most $6213.

=NORM.DIST(6213,2824,2622,TRUE)-NORMDIST(2621,2824,2622,TRUE)=0.4328

 

fullscreen
Step 3

Question 8: Find the probability a randomly selected 2012 tax return showed an amount greater than $3066

Answer: We can use the below excel function to find the probabilit...

Want to see the full answer?

See Solution

Check out a sample Q&A here.

Want to see this answer and more?

Solutions are written by subject experts who are available 24/7. Questions are typically answered within 1 hour*

See Solution
*Response times may vary by subject and question
Tagged in

Math

Statistics

Related Statistics Q&A

Find answers to questions asked by student like you

Show more Q&A add
question_answer

Q: Natasha is a physician looking to determine whether a supplement is effective in helping men lose we...

A: According to the given question, Natasha is a physician looking to determine whether a supplement is...

question_answer

Q: What degrees of freedom would younormally expect a t test to have when N1 = 40 and N2 = 55?

A: It is provided that there are two samples of size n1=40 and n2=55.So, this is an example of 'two sam...

question_answer

Q: A grocery store manager did a study to look at the relationship between the amount of time (in minut...

A: The estimated regression line is as follows:

question_answer

Q: Use one of the following key terms to answer each of the following questions. KEY TERM BANK (separa...

A: Unvariate Analysis : When the analysis of data has only one variable in such cases we use Univariate...

question_answer

Q: A study was done to look at the relationship between number of lovers college students have had in t...

A: The estimated regression line is as follows:

question_answer

Q: Make a frequency table, a pie chart, and a bar plot for the following data for patients' blood types...

A: Frequency distribution:The number of times each value of X repeats is the frequency of that particul...

question_answer

Q: To open a combination lock, you turn the dial to the right and stop at a number; then you turn it to...

A: Combination Rule:A combination is a selection of all or part of a set of objects, without regard to ...

question_answer

Q: A researcher obtains hamstring measurements from a group of classmates. She then classifies those me...

A: Accordingt o the given question;A researcher obtains hamstring measurements from a group of classmat...

question_answer

Q: Zar (1999) describes an experiment in which 13 people with hemophilia were random oTeceve drug B and...

A: NOTE:Hi, the posted question is based on the data of haemophilia, but in part (a) it is asked to fin...