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The Prices of Condos in a City Are Normally Distributed

question 88

Short Answer

The prices of condos in a city are normally distributed with a mean of $90,000 and a standard deviation of $28,000.
a.The city government exempts the cheapest 6.68% of the condos from city taxes. What is the maximum price of the condos that will be exempt from city taxes?
b.If 1.79% of the most expensive condos are subject to a luxury tax, what is the minimum price of condos that will be subject to the luxury tax?


Definitions:

Passive Opposition

Behaviors characterized by non-active resistance or non-cooperation, especially in response to authority or control.

Repressed Belligerence

Refers to hostile or aggressive feelings that are suppressed or held back from conscious awareness, possibly affecting an individual's behavior indirectly.

Relational Aggression

A form of aggressive behavior that harms others through intentional manipulation and damage to their relationships or social status.

Physical Violence

The use of physical force with the intention of causing bodily harm, injury, or death to another person.

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