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If the random variable X is normally distributed with a mean of 70 and a standard deviation of 10, find the following values of the distribution of X.
a. First quartile.
b. Third quartile.
Adequate Income
A level of income considered sufficient to provide for the basic living expenses of an individual or family.
Income Redistribution
The transfer of income from certain individuals or groups to others through mechanisms such as taxation, social security, or public spending, aimed at reducing inequality.
Economic Questions
Fundamental inquiries regarding the allocation of scarce resources, including what, how, and for whom to produce.
Utilitarian Justice
A principle that seeks the greatest good for the greatest number of people in the distribution of resources and benefits.
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