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i. The interquartile range is the difference between the values of the first and third quartile, indicating the range of the middle fifty percent of the observations.
Ii) An outlier is a data point that always occurs in the first quartile.
Iii) A student scored in the 85 percentile on a standardized test. This means that the student scored higher than 85% of the rest of the students taking the test.
Qualified Retirement
A retirement plan that meets requirements set by the Internal Revenue Code, offering tax benefits such as tax-deferred growth on earnings.
Tax Regulations
Comprise the laws and rules governing how taxes are assessed, collected, and managed by governmental entities.
Favorable Tax Treatment
Tax policies or practices that are advantageous to businesses or individuals, reducing the amount of tax they have to pay.
Noncontributory
Pertains to employee benefit plans where the employer bears the full cost of the benefits without requiring financial contributions from employees.
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