A Sample of 500 Evening Students Revealed That Their Annual

question 123

Short Answer

A sample of 500 evening students revealed that their annual incomes were normally distributed with a mean income of $30,000 and a standard deviation of $3,000. What is the income that separates the top 25% from the lower 75% of the incomes?

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Definitions:

Alternatives

Different choices or options that are available in a decision-making process.

Adjusted Corporate Tax

This term might involve adjustments made to the corporate tax reported, accounting for various deductions, credits, and exemptions to reach a tax obligation more accurately reflecting the company's financial activity.

Taxable Income

Income subject to taxes, calculated by subtracting deductions and exemptions from gross income.

Total Operating Capital

Represents the total amount of capital tied up in operating assets, necessary for the day-to-day functioning of a business.