Which Excel Function Finds the Value X Such That 55 $\mu$

question 31

Multiple Choice

Which Excel function finds the value X such that 55% of the probability lies below X from a normal distribution with mean $\mu$ = 20 and standard deviation $\sigma$ = 3?

• A)NORMDIST(.55,20,3,TRUE)
• B)NORMSDIST(.55,20,3)
• C)NORMINV(.55,20,3)
• D)NORMSINV(.55,20,3)

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Definitions:

Pre-Tax Book Income

The income of a business before taking into account any tax liabilities, reflecting the company's financial performance without the impact of tax expenses.

Taxable Income

The portion of an individual's or entity's income used to determine how much tax is owed to the government, after all deductions and exemptions are applied.

Pre-Tax Operating Loss

The loss a company incurs from its operations before accounting for taxes, indicating how well the core business is performing.

Carryback

A tax provision that allows individuals or businesses to apply a current year's net operating losses to previous years' profits to reduce tax liabilities.